1. Calculation of first instalment
The 1er installment is equal to one-third (1/3) of the tax due on the results of the last fiscal year taxed in respect of the previous year (2017).
In the case of financial years of less than or more than one year, interim dividends are calculated on the basis of profits over a twelve-month period, and paid on the above date.
The amount of the deposit is rounded down to the nearest hundred francs. Any amount less than fifty francs will be deducted from the next amount due, or disregarded in the case of the last instalment.
We remind you that advance payments, as well as the balance, must be paid spontaneously, in the absence of a tax notice.
Precision Instalment payment dates are a matter for the law. In principle, therefore, it is not possible to obtain an extension of the payment deadline. Any delay or failure to pay is punishable by simple late payment interest of 5% liquidated on the unpaid balance (each additional month or fraction of a month of delay gives rise to the payment of additional interest of 0.5%) or a penalty equal to twenty-five percent (25%) of the duties evaded.
NB : In any case, for companies and legal entities liable to corporate income tax, the first IS installment cannot be less than the amount of lump-sum minimum tax (IMF).
Thus, except for companies exempt from MFI (see article 39 of the CGI), the first installment is merged with the MFI, if the total amount of corporate income tax does not exceed the MFI.
The MFI is payable on sales (excluding tax) generated in the year preceding the year of taxation on the basis of 0.5% of said CA. In all cases, the amount of the MFI may not be less than FCFA 500,000 nor be greater than FCFA 5,000,000.
The MFI is payable by any company or legal entity with a loss-making result, or a result that does not generate a corporate tax rate higher than the MFI rate.
In the absence of sales figures from your financial statements, the provisional sales figure to be used is that recorded or declared for the indirect tax applicable to your sector of activity (taxable sales + exempt sales), for the period in question, subject to adjustment, if necessary, when the second instalment is due.
2. MFI-exempt companies
In the absence of specific regulatory provisions, the only companies subject to but exempt from MFI under article 39 of the CGI are the following:
- companies that began their first operations in the year preceding the year of taxation, and companies that closed their first balance sheet during or at the end of the said year, provided, in this case, that the financial year does not exceed twelve (12) months; ;
- companies whose sole purpose is to publish, print or sell periodicals; ;
- companies that ceased all professional activities prior to 1 January 2009.er January of the tax year, and not subject to the contribution des patentes in the current year's tax rolls.
- holders of mining or petroleum permits or concessions for a period of three (3) years from the date of issue of the operating title.
3.corporate income tax rates
As a reminder, in the event of profit, IS rate is 30% based on taxable income.
4. Place of payment
Instalments must be paid to the head of the tax collection office at the head office or, failing that, at the main place of business.
