ANNOUNCEMENT 01 Jul 2009In July 2009, the government of the Cote d'Ivoire announced a change in export taxation.
NUMBER OF INTERVENTIONS
International Monetary Fund, C?te d'Ivoire: Letter of Intent, Memorandum of Economic and
Financial Policies, and Technical Memorandum of Understanding, page 11, http://www.imf.org/External/NP/LOI/2009/civ/031309.pdf
Reuters Africa, Update 2 - Ivorian cocoa export tax to fall in 2009/10, http://af.reuters.com/article/ghanaNews/idAFL153125720090701?pageNumber=2&virtualBrandChannel=0
Cote d'Ivoire will reduce export taxes on cocoa (its highest foreign exchange earner) in the 2009/10 season by 5% from CFA francs 220/kg to CFA francs 210/kg. This is aimed at meeting the debt relief terms of the World Bank. Taxes on cocoa in Cote d'Ivoire are among the highest of cocoa-growing countries.
Also, cocoa registration duties will be reduced to 5% from 10% of the bean price, CIF inclusive.