Ivory Coast (Côte d'Ivoire)
A new Investment Code was adopted in October 2018, and subsequent amendments have been made in the end of 2019 and in 2020.
The FY20 Financial Law, which was adopted on 18 December 2019, has brought up new measures in relation with the country National Development Plan, such as:
- Improving the productivity of main sectors (tax incentive measures for agro industry, pharmaceutical industry, research and development (R&D), and technology innovation activities).
- Enhancing job creation by offering tax credit for recruitment under a fixed term contract.
- Tax exemption for any investments made in areas outside the economic capital.
- Honouring international commitments.
The FY20 Financial Law also provides other incentives measures, such as tax credit for waste recycling business and the suspension of the minimum tax.
In a global context of health crisis due to the Coronavirus pandemic (COVID-19), the FY21 Financial Law essentially aims at strengthening the budget of the state through an increase of tax collections.
The 2022 tax appendix has been structured mainly around the following areas:
• strengthening the mobilization of tax resources;
• support for the national economy and employment.
In particular, it provides for restrictions concerning the taxation of intra-group transactions and favorable measures for investment companies with fixed capital.