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Burkina Faso

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About

Burkina Faso

Capital
Official languages
Population 
Currency

ISO 4217

Ouagadougou

French, Mòoré, Fulfulde, Dioula

19,751,651 (as of 2019)

Burkina Faso Franc

XOF

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Economy

Taxation

Burkina Faso is a landlocked country located in West Africa with a relatively simple tax system. The tax system in Burkina Faso is regulated by the General Tax Code and administered by the General Directorate of Taxes.


Personal income tax is levied on all residents of Burkina Faso, including foreign nationals who reside in the country for more than 183 days per year. The tax rates are progressive, ranging from 0% to 35%, depending on the income level. The first XOF 360,000 of annual income is exempt from taxation, and there are various deductions and credits available to reduce the tax liability.


Corporate income tax is levied on all companies and businesses operating in Burkina Faso. The standard corporate tax rate is 27.5% on the net taxable income. However, there are various tax incentives available for certain industries and activities, such as the promotion of research and development and investment in certain regions of the country.


In addition to federal taxes, there are also other taxes levied on businesses operating in Burkina Faso, such as the value-added tax (VAT), which is currently 18%, and various excise taxes on certain products.


The tax year in Burkina Faso runs from January 1st to December 31st. The deadline for filing personal income tax returns and paying any outstanding tax is usually March 31st of the following year, while the deadline for filing corporate tax returns and paying any outstanding tax is generally June 30th of the following year.


Payments can be made online or in person at designated banks. Penalties for late payment or non-payment of taxes can range from fines to imprisonment, depending on the severity of the offense. Additionally, interest may be charged on any outstanding tax liability.


Overall, taxation in Burkina Faso is relatively simple, with a moderate tax burden compared to other countries in the region. It is important for taxpayers to consult with local tax advisors or government authorities to ensure compliance with the relevant tax regulations.

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