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Finance law: Tax revenue projected at 3,486.7 billion FCFA in 2023

02/11/2022
Categories: Economy/Forex

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Tax revenue is projected at 3,486.7 billion FCFA in the 2023 finance bill, compared with 3,052.1 billion in 2022. That is an increase of 434.6 billion FCFA in absolute terms and 14.2% in relative value according to the information contained in the draft budget bill for the year 2023.

The bill mentioned that the good prospects are explained by the acceleration of the implementation of the Medium-Term Revenue Strategy (Srmt), Féd& • ensuring and coordinating the action of State services for the efficient mobilization of public resources. Indeed, the implementation of projects to reform tax and customs administrations by achieving digital maturity from 2023 will be continued. The tax administration will implement certain actions. Among these, there is the pursuit of the more efficient implementation of customs value governance, through the Customs Administration Modernization Programme (Promad). And finally, a more pronounced network of the territory facilitated by the use of the latest generation of anti-fraud technological means.

According to the same document, “Good performances were recorded in 2022 in terms of revenue mobilization. The year 2023 should follow the same trends, with the consolidation of the good results of the authorities in the area of collection. Finally, it is important to highlight that 2023 will be the first year of collecting fiscal resources directly from the exploitation of hydrocarbon resources belonging to Senegal. As such, 19.8 billion CFA francs are expected in tax revenues and which will be earmarked for the general budget.”

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