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Country Rankings - Cote d''Ivoire

  • Jul 07, 2015   Cote d''Ivoire: tech-focused

    Another area where developing nations in particular tend to thwart themselves economically is through import and other taxes on high-tech products like computers, laptops, and smartphones. So it made a refreshing change to read that the Government of the Ivory Coast is slashing taxes on imported computers, phones, and tablets, to encourage the adoption of technology in the country. According to the findings of a 2014 study by the Information Technology and Innovation Foundation, this could turn out to be a smart move by the Ivorian Government. This report says that taxes on hi-tech goods are having a major impact on economic productivity. In India, for instance, for every dollar raised from taxes, USD1.30 is lost as a result of lower productivity. Yet, of the 125 nations examined in the study, 31 impose combined ICT tax and tariff rates of over five percent of product or service costs, with several countries adding more than 20 percent to costs. Bangladesh, one of the poorest countries in the world in terms of GDP per capita, imposes the highest taxes on the industry, averaging tax of 57.8 percent in addition to the country's 15 percent value-added tax. In second and third place are Turkey and the Democratic Republic of Congo, which add taxes and tariffs of 26.1 percent and 23.8 percent, respectively. The report concludes that taxes have a noteworthy impact on the adoption of ICT goods and services, lowering demand by as much as 20 percent in Bangladesh, DR Congo, and one other nation – yes, you've guessed it – Brazil!
    Source: www.tax-news.com/news/Ivory_Coast_To_Slash_Taxes_On_Tech____68501.html


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