In a gloomy economic context marked by covid-19, the Ivorian government is continuing its tax mobilization plan to support the state budget. The target set for the third quarter of this year has been largely exceeded.
Between July and September this year, the Ivorian General Directorate of Taxes (DGI) has collected $1.3 billion (CFA743.6 billion) in tax revenue. "Our initial tax target was CFA660.2 billion for the period. We achieved a surplus of CFA83.4 billion. This makes a mobilization rate of 112.6%," said Sié Abou Ouattara (pictured), Director General of Taxes.
According to him, this good momentum is expected to continue over the 4th quarter. "We are already on the right track […] we must continue to implement the ambitious reforms already underway," he said.
For the fourth quarter of 2021, the authorities eye a tax mobilization of CFA606.6 billion ($1.06 billion), about CFA54 billion ($95 million) less than the third quarter. The tax burden in Côte d'Ivoire remains low. The government estimates it at about 12.5%, while the average rate within the West African Economic and Monetary Union (WAEMU) is 20%. The authorities hope to close this gap to achieve higher tax mobilization rates.
For the whole 2021 year, the General Tax Directorate seeks to collect CFA2,748.7 billion ($4.8 billion), up CFA396.5 billion ($698 million) compared to 2020.
EBID aims to allocate nearly 41% of its commitments to environmentally and socially impactful projec...
Flutterwave secures Nigerian banking license to offer credit and savings License enables direct d...
BCEAO mandates all financial institutions to complete integration Move aims to ensure seamless, i...
M-PESA evolves into major financial platform with 35 million users Telecoms, fintechs expan...
This week, Africa’s health outlook is shaped by mounting supply chain risks tied to global tensions,...
Civil nuclear power has long been a source of controversy, but driven by the energy transition, it is gaining ground globally, reviving both expectations...
Ghana reviewing fuel taxes after recent pump price increases Minister says no decision yet; options include levy reductions Rising global oil prices...
World Bank to mobilize $550 million for Kenya road project Project to upgrade 508 km, boosting regional trade links Corridor to cut...
Egypt signs deal on $100 million dry port with EDECS, MEDLOG Facility aims to ease port congestion, shift freight from road to...
Nosy Iranja is one of the most iconic island destinations in northwestern Madagascar, lying in the Mozambique Channel about an hour and a half by boat...
Sungbo Eredo, located in southwestern Nigeria near the Yoruba town of Ijebu-Ode, stands as one of the most remarkable yet overlooked monuments of...