Changes To The General Tax Code - Investment Incentives

The list of investments that give rise to reduction of tax when the appropriate formalities have been completed has been expanded to include :-

• The acquisition, renewal or installation of production, transformation, conditioning and conservation, equipment in agricultural and food processing activities. However, the minimum qualifying investment has been increased to 25 Million Franc CFA.
• The decision of the Minister of Economy and Finance approving the tax reduction is notified by registered letter. The Tax Department verifies the investment documents and any fraud found in the documents results in the re-imposition of the tax evaded with appropriate penalties.

NOTE: The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought for specifics.

For further information contact Mr Nico Halle, Tel: +237 42 64 79 or Fax: +237 43 26 34 or enter text search 'Nico Halle Law Firm' and 'Mondaq Business Briefing'.