Investment incentives in senegal

Investment incentives in senegal

There are various tax incentives put in place to stimulate investment in Senegal. These are as follows:

  • custom duty exemptions (three years)
  • VAT suspension (three years)
  • Tax credits of 40% eligible investment deductible within five years50% taxable profit
  • The corporate tax rate is 15%
  • Exemption from customs duties and duty stamps on utilitarian vehicles and tourism vehicles and means of transportation clearly intended for production
  • Exemption from taxes based on salaries paid by companies
  • Exemption from all registration and stamp duties when registering a company and modifying its
  • Exemption from patent fee, property tax on constructed and unconstructed property, and from the license fee
  • Exemption from the taxes on Income for Stocks and Shares drawn by the firm on the dividends distributed.
  • 50% of current year cost of investment
  • 50% of current year taxable profit.
  • Taxpayers may deduct 30% of amounts actually invested from tax due but the reduction will be limited to 25 % of the amount of tax assessed on the taxable profits of the financial year during which the investments were paid. Where, as a result of this limit, that total of 30% cannot be deducted, the balance may be carried forward to subsequent years.

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