It has been reported that Senegal is undertaking a major reform of its tax system. A new General Tax Code is expected to be enacted by this year-end and will therefore replace the current Tax Code which is in force since 1992.
The most important features of the tax reform include:
| - | the standard corporate income tax rate will be increased from 25% to 30%; | |
| - | companies will be allowed to deduct 40% of the value of their investments from th… |