737 billion CFA of tax revenue collected in first half of 2014

The General Tax Directorate of the Ministry of Finance (DGI) has mobilized a total revenue of 737 billion CFA francs, against forecasts of 657 billion CFA francs.

This corresponds to exceeding the forecast by 80 billion CFA francs. Compared to 2013, this performance was up 135 billion CFA francs, the DGI has collected only 602 billion CFA francs in the same period last year.

Halfway through the fiscal year, revenues earned far more than 50 per cent of the overall budget expected by year end, which amounted to 1240 billion CFA francs.

It was sufficient to ensure the DGI predicted an achievement of fiscal targets at the end of the year, despite recent fee reductions prescribed by the Head of State, following the upward revision in fuel prices and domestic gas.

Indeed, we learn, the most important tax affected by the recent measures of the head of state is the special tax on petroleum products (TSPP).

The impact on tax revenues in the second half of 2014 is officially estimated at 15 billion CFA francs.