Two tax regimes, relating to "the entrepreneur" and to "microfinance", have been instituted in the 2021 tax schedule "instead of the flat-rate tax regime for small traders and craftsmen and the regime for synthetic tax,” said tax expert Annick Kopoin of the audit firm Mondon Conseil International on Tuesday in Abidjan, during a ceremony.

"The tax annex to the finance law for management 2021 in its article 33, establishes two new tax regimes instead of the flat-rate tax regime for small traders and craftsmen and the synthetic tax regime" ', said Ms. Kopoin, during the presentation of the main provisions of the annex.

The entrepreneur regime includes companies whose annual turnover, all taxes included, does not exceed CFAF 50 million, while the microenterprise regime includes companies with a turnover of between CFAF 50 and 200 million. FCFA.

The audit firm reported that these new regimes aim to help Small and Medium Enterprises (SMEs) adapt to the demands of simplification, modernity and optimality of today's world, because according to the tax administration the old regimes prove to be complex and unsuited to their realities.

However, the establishment of these regimes gives rise to the creation of new source deductions payable by taxpayers.

Côte d'Ivoire's 2021 budget is balanced in resources and expenditure at 8.415 billion FCFA. The contribution of taxes to the coverage of these resources amounts to 3.501 billion or 42% of the resources. The provisions contained in the tax annex take effect from Friday 8 January 2021.

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e imported rice subject to VAT at the reduced rate of 9%
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ECONOMYauthor
Jocelyne LIADE
ABIDJAN, 06 January 2021 – 10:07 GMT [ALERT INFO]-

So-called "luxury" rice or rice imported outside the ECOWAS zone will now be subject to VAT at the reduced rate of 9%, according to article 6 of the tax annex for the management of the year 2021 presented on Tuesday by the firm by the General Confederation of Businesses of Côte d'Ivoire (CGECI) in collaboration with the expert firm Mondon Conseil.

From now on, luxury rice as well as meat imported outside the ECOWAS zone (Economic Community of West African States) are subject to VAT at the reduced rate of 9%", explained Annick Kopoin, expert tax specialist and associate member of the firm, during the presentation of the said appendix.

The application of this provision on so-called "luxury" rice, unlike other basic food products, comes 23 years later, to accelerate self-sufficiency in rice, not yet achieved but targeted for 2025.

“This measure will certainly increase tax revenue, but will certainly promote locally produced rice,” said Ms. Kopoin, adding: “Imports are dominated by fragrant rice from Asian countries. »

Côte d'Ivoire imports approximately 300 billion rice each year, and thus ranks 5th in the world among importing countries of this commodity and 2nd place on a continental scale.

Main staple of consumption of Ivorians, the management of rice is the subject of permanent attention of the political authorities.

The provisions of the tax annex for the management of the year 2021 will come into force from January 8.