(Ecofin Agency) - On February 14, 2018, Côte d’Ivoire adopted a new ruling which cancels the tax exemption on industrial and commercial benefits (ICB) of mine operators.

In a statement issued by the council of ministers, it is indicated that valid mining agreements and licenses granted before this ruling entered into force would not be affected.  

“A discount of 75% and 50% of the ICB tax will be granted respectively in the first and the second year of operation to holders of mining licenses issued in 2018 to ensure a transition period for the implementation of this new measure,” the statement indicated.

The government also announced the issuance of three new 4-year gold exploration permits to Awale Resources and Notre Dame Resources.                                                                                                                                                              

Louis-Nino Kansoun