Ivory Coast Highlights:
- An EoR (Employer of Record) package is the most efficient and effective way to deploy local and foreign employees in Ivory Coast.
- 1WB acts as an EoR ensuring full compliance with country’s regulations.
- The whole deployment process for foreigners takes about 3 weeks whereas for locals within 1 week.
- Handling payroll processing, immigration and taxes compliantly, swiftly and cost efficient.
- Taxable corporate income for resident companies is levied at 25% subject to a minimum tax, whereas non-resident entities are subject to withholding tax at 20% subject to existing DTTs.
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Personal income tax rates for resident individuals are subject to precise direct income tax which is dependent on the type of income earned and to general income tax (IGR).
Salary tax (IS) 1.5% of 80% of gross income (GI) is levied as IS, which is withheld by employers.
National contribution (CN) 80% of gross income is taxed as CN at progressive rates from 1.5% to 10% based on varying tax brackets as shown below: - Formula: CN = (80% * GI * Tax rate) – Variable
| Taxable Base (XOF) | Tax Rate % | Variable XOF |
|---|---|---|
| 0 - 600,000 | 0% | 0% |
| 600,000 - 1,560,000 | 1.5% | 9,000 |
| 1,560,000 - 2,400,000 | 5% | 63,600 |
| >2,400,000 | 10% | 183,600 |
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General income tax (IGR)
Formula: IGR = (T/N * (Tax rate) – V) * N, where:
The taxable base (T) for IGR is derived as shown below and includes a 15% deduction
T = (GI * 80% - (IS + CN)) * 85%
GI = Gross income IS = Tax on salary
CN = National contribution
V = Predetermined variable
N = Number of parts (see personal allowances in the deductions section)
| Taxable Base XOF | Net Tax | - | Variable | * | Number of parts |
|---|---|---|---|---|---|
| 0 - 300,000 | 0 | ||||
| 300,001 - 547,000 | (R* 10/110 | - | 27,273) | * | N |
| 300,001 - 979,000 | (R* 15/115 | - | 48,913) | * | N |
| 979,001 - 1,519,000 | (R* 20/120 | - | 84,375) | * | N |
| 1,519,001 - 2,644,000 | (R* 25/125 | - | 135,000 | * | N |
| 2,644,001 - 4,669,000 | (R* 35/135 | - | 291,667 | * | N |
| 4,669,001 - 10,106,000 | (R* 45/145 | - | 530,172 | * | N |
| Over 10,106,000 | (R* 60/160 | - | 1,183,594 | * | N |
- Work permit - 1WB can sponsor work permits for foreign employees and the processing time is about 4 weeks.