Ivory Coast: Business Environment

Accounting Rules

Tax Year: The fiscal year begins on 1 January and ends on 31 December of the same year.
Accounting Standards: The accounting system of the UEMOA (WAEMU) is in force in Côte d'Ivoire. For further information, consult Investir en Zone Franc (Investing in the Franc Zone).
Accounting Regulation Bodies: West African Accounting Council
Accounting Reports: - At the end of each accounting year, the manager discloses the financial statement synthesis, in compliance with the Uniform Act regulations concerning the organization and harmonization of accountings.
-The manager establishes an annual report.
Publication Requirements: - An annual report must be published.
- Any modification in the presentation of the financial statements synthesis must be indicated in the annual report and also in any auditor's report.
- The accounting documents.
Professional Accountancy Bodies: Association of Accountancy Bodies in West Africa
Certification and Auditing: The control of accounts is realized by auditors. They are committed to certifying the consistency and honesty of the financial statements sythesis and to accompanying the certification with reservations or a refusal, specifying the reasons for this. You can contact an external auditor: Deloitte, Ernst & Young.
Accounting News: Les Afriques

Nature of the Tax: Value Added Tax
Tax Rate: The base rate is 18%.
Reduced Tax Rate: The reduced rate is 11% for some operations. The following are exempt from VAT: basic foodstuffs, medical and pharmaceutical services, banking and insurance operations, some international trade operations, fertilizers, phytosanitary products, feed for livestock and farmyard animals.
Other Consumption Taxes: Special tax on alcoholic beverages and tobacco. For more information, consult the taxes on goods and services.

Company Tax: 25% (standard rate)
Tax Rate For Foreign Companies: 20% (deducted at source).
Capital Gains Taxation: The tax on capital gains is included in the corporate tax.
Main Allowable Deductions and Tax Credit: Non-prescribed tax advantages entitle companies to deductions. In addition, on account of VAT, acquisitions of goods and services allocated by agro-industrial companies are exempt from tax on wages and salaries.
Other Corporate Taxes: Capital duty, payroll tax, real property tax, stamp duty, transfer tax, business licence duty, social security contributions, insurance premiums levy. For further information, consult the Directorate General of Taxes of Côte d'Ivoire.

	Ivory Coast	Sub-Saharan Africa	United States	Germany
Number of Payments of Taxes per Year	64.0	37.3	11.0	16.0
Time Taken For Administrative Formalities (Hours)	270.0	315.1	187.0	215.0
Total Share of Taxes (% of Profit)	44.4	68.0	46.8	48.2

Source: Doing Business - Last Available Data.

General Income Tax (IGR)

37.5%

Allowable Deductions and Tax Credit: Expenses deductible from general income include life insurance premiums, loan interest, subsistence allowances paid to dependent parents or a spouse and the general income tax itself.
Special Expatriate Tax Regime: There is no special expatriate tax regime.

Countries With Whom a Double Taxation Treaty Have Been Signed: See the list of countries having a double taxation agreement with Ivory Coast.
Withholding Taxes: Dividends: 10%/12%/18%, Interest: 18% (6/15/25%), Royalties: 20%.

Tax Authorities: Directorate General of Taxes
Directorate General of Customs
The Treasury
Other Domestic Resources: Doing Business - Ivory Coast

National Organizations: Côte d'Ivoire has signed the agreement establishing the World Intellectual Property Organisation (WIPO). You can contact the Ivorian Office of Intellectual Property (OIPI) by Email.
Regional Organizations: Member of the African Intellectual Property Organization (OAPI) (in French).
International Membership: Member of the WIPO (World Intellectual Property Organization)
Signatory to the Paris Convention For the Protection of Intellectual Property

Type of property and law	Validity	International Agreements Signed
Patent Law on the protection of intellectual works and copyright.	20 years	Patent Cooperation Treaty (PCT)
Trademark Agreement revising the Bangui Agreement of 2 March 1977, on the creation of the African Intellectual Property Organization, 24 February 1999	10 years, renewable for consecutive 10 year periods	Trademark Law Treaty
Design Agreement Revising the Bangui Agreement of March 2, 1977, on the Creation of the African Intellectual Property Organization, February 24, 1999	5 years, renewable for two further 5-year periods
Copyright		Berne convention For the Protection of Literary and Artistic Works WIPO Copyright Treaty WIPO Performances and Phonograms Treaty

Independence of Justice: The judiciary in Ivory Coast is not independent. Judges are political appointees and are highly susceptible to external interference.
Equal Treatment of Nationals and Foreigners: Foreign nationals cannot expect an impartial trial from the country’s judicial system.
The Language of Justice: French is the judicial language used in the country.
Recourse to an Interpreter: An interpreter can be organised.
Sources of the Law and Legal Similarities: The main source of the law in the country is the new constitution of August 2000. The legal system is based on the French civil law system and customary law. Côte d'Ivoire accepts compulsory ICJ jurisdiction but with reservations.
Checking National Laws Online: Côte d'Ivoire laws

National Standards Organizations: Côte d'Ivoire Standardization
Integration in the International Standards Network: Côte d'Ivoire is a corresponding member country of ISO (International Organization for Standardization). A corresponding member is generally an organisation in a country which has not yet fully developed its national activity in the field of standardization. Here, the organization is CODINORM. It's also a member of the African Electrotechnical Standardization Commission (AFSEC).
Classification of Standards: Ivorian standards (NI) are generally derived from French standards and follow ICS classification. Further information is available at CODINORM.
Online Consultation of Standards: Consult the standards on CODINORM.
Certification Organizations: CODINORM

General Information: Global markets, Invest in Ivory Cost
Opening Hours and Days: Banks are open from Monday to Friday from 8 AM to 4 PM.

New Year's Day	1 January
Easter Monday	In April (the date is variable)
Ascension	40 days after Easter Monday
Whitsun	Variable (7 weeks after Easter)
Assumption	15 August
All Saints	1 November
National Peace Day	15 November
Anniversary of the death of President Félix Houphouët-Boigny	7 December
Christmas Day	25 December
Day after the night of Destiny	Variable
Aid el Fitr	Variable
Aid el Kebir	Variable
Maouloud	Variable

Holiday Compensation: If a public holiday falls on a Saturday, then the following Monday is not a working day.

Any Comments About This Content? Report It to Us.