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Ivory Coast Planning 3% Tax on Rubber-Processing Facilities

Ivory Coast plans to impose a 3 percent tax on processing facilities for granulated rubber, the head of the West African nation’s tax authority said.

Telecommunications companies will also pay a new tax, Pascal Abinan, director-general of the country’s Directorate General of Taxes told reporters yesterday in the capital, Abidjan, without giving further details.

The country loses as much as 500 billion CFA francs ($1 billion) a year to fraud and tax evasion, Abinan said. “We’re going to strengthen our tax collection,” he said.

To contact the reporter on this story: Baudelaire Mieu in Abidjan at bmieu@bloomberg.net

To contact the editor responsible for this story: Emily Bowers at ebowers1@bloomberg.net

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