(Ecofin Agency) - In Cote d’Ivoire the law exempting tax and royalty on cocoa exports for local actors of the cocoa sector was approved by the deputies of the commission for economic and financial affairs (CAEF).

The new rule which was adopted last Monday in Abidjan states that exoneration rate for parafiscal levies  will be fixed by a joint decision of the Ministers of Agriculture, Budget, Economy and Finance. To benefit from the measure, national operators must, according to the law, provide evidence that they acquire what they export for themselves and do not act as intermediate for foreign companies.  

It should also be highlighted that the rate for registration tax is 2.165% this year, against 3% for the 2014-2015 main cocoa season.

With taxes and royalties gone, Ivorians operating in the cocoa sector should be able to increase their cocoa exports revenues.