Ivory Coast Collects 18 Percent More Taxes Than Expected

Ivory Coast collected 18 percent more taxes than expected in the first two months of the year, said Pascal Kouakou Abinan, director-general of taxes.

The West African nation’s revenue amounted to 157 billion CFA francs ($318 million), compared with the government’s expected earnings of 133 billion francs, Abinan told reporters today in Abidjan, the commercial capital. Ivory Coast plans to collected more than 1 trillion francs in taxes this year, he said.

“The economy’s signals are very good and the recovery is a reality,” Abinan said.

Growth in the West African nation, the world’s largest cocoa producer, is expected to accelerate to 8.5 percent this year after contracting 5.8 percent last year, according to the Finance Ministry.

Ivory Coast will provide 59 billion francs in tax relief to companies in 2012, Abinan said.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE