Tax
Code général des impôts 2012 with 18% VAT and a new petroleum fiscal regime
VAT is 18% and corporate tax is 30%. The 2019 Petroleum Code introduced production sharing with state participation through Petrosen, and a 2022 law governs the allocation of petroleum revenue to an intergenerational fund.
Key rules
- Jurisdiction — Direction Générale des Impôts et Domaines assesses; appeals lie to the Cour suprême administrative chamber.
- Deadline — Corporate return: 30 April
- Deadline — VAT: by the 15th of the following month
Governing law
- Loi n° 2012-31 portant Code général des impôts
- Loi n° 2019-03 portant Code pétrolier
- Loi n° 2022-09 relative à la répartition et à l'encadrement de la gestion des recettes issues de l'exploitation des hydrocarbures
In practice
Senegal legislated its petroleum revenue framework before production began, allocating shares to the budget, a stabilisation fund and an intergenerational fund. That sequencing — rules first, revenue second — is the opposite of most African producers' experience and is the principal reason Senegal's hydrocarbon fiscal framework is cited as a comparative model.