Burkina Faso Income Tax Rate

Burkina Faso personal income tax rate is 2% - 30%.

The top personal income tax rate is 30 percent, and the top corporate tax rate is 30 percent, to be reduced to 25 percent. Other taxes include a value-added tax (VAT) and a tax on insurance contracts. In the most recent year, overall tax revenue as a percentage of GDP was 11.5 percent. Burkina Faso has temporarily suspended the VAT on foodstuffs. Simplifying and consolidating the tax code is a major item on the government's reform agenda.

Individuals pay a single income tax, varying from 2-30% on salaries. Companies pay a tax on profits, a forfeit tax, and taxes on income from debt and investments. There are also a number of real estate taxes. Sales and transaction taxes are shared by most of the population. Indirect taxes include customs duties and license fees.

There are consumption taxes on specified items, such as petroleum products and tobacco and local taxes on motor vehicles.

Burkina Faso Corporate Tax Rate

Burkina Faso corporate income tax rate is 30%.

Burkina Faso government announced that it has reduced its corporate tax rate for mining companies from 25% to 20%, and it has a 10% non-participating interest and a 3% net smelter royalty in the Essakane project.

Currency of Burkina Faso is West African CFA Franc (XOF). Burkina Faso is backed by the French treasury, and trades at a fixed rate with Euro (EUR).

With geological formations similar to its gold and mineral producing neighbors, Burkina Faso is considered the country with the greatest untested mining potential in West Africa.

The national investment code of Burkina Faso guarantees foreign investors the same rights and protection as Burkinabe enterprises for trademarks, patent rights, labels, copyrights, and licenses.

Other Taxes in Burkina Faso

Tax on Dividends: In Burkina Faso, tax on dividends is 12.5%.

Social Security Contributions: 16%

Payroll and Apprentice Tax: Payroll tax in Burkina Faso is 4%.

Property Transfer Tax: Property transfer tax in Burkina Faso is 10%.

Mortmain Property Tax: 10%

Tax on Insurance Contracts: In Burkina Faso, tax on insurance contracts is 20%.