Investment Code
A.
Parameters of the Investment Code :
- Agriculture, livestock, fisheries, activities related
to manufacturing, storage, packaging of animal, vegetable or fisheries products ;
- Manufacturing production or transformation activities ;
- Mineral substance extraction or processing activities ;
- Tourism and related activities ;
- Cultural industry run by an SME (books, records, documentation
and audio-visual production centre) ;
- Services provided by an SME in the fields of Health,
Education, Industrial equipment assembly and maintenance ;
- Port infrastructure works;
- Railway development and management.
B. Conditions
specific to Law N°87-25 of 18 August 1987 :
- Investment of at least 5 million CFAF in one of the aforementioned
sectors;
- Funding investments through equity, to the tune of at
least 20% for SME (investments not less than 400 million) and 30% for major
companies (investments to the tune of 400 million and above).
A.
For all
eligible sectors :
-
An application for eligibility addressed to the Minister
of Finance and the Economy c/o Director General of the Investment Promotion and Major Projects Agency (APIX), specifying
the nature of the activity and place chosen to establish the business.
-
A technical data sheet (the format of which is available
at the reception service/ APIX Front Office) in ten (10) copies, the list
of equipment and materials should be attached to this form ;
-
A certificate of registration on the companies’ register
or an authenticated copy of the memorandum and articles of association or
the minutes of the company’s constituent general assembly or the legalised
copy of an identity card, in the case of a sole-proprietor company ;
-
The suspension of duties and taxes are granted for the
start-up of projects proposed for eligibility, on the basis of pro forma invoices
and bills of lading.
-
Requests for additive lists should include the destination
of the targeted equipment and material as well as their connection with the
approved programme ; they should be accompanied by a letter of approval
and the aforementioned list.
B.
For the
agricultural sector
-
The proof of occupation of the assigned land.
C.
For mining
extraction
-
The exploitation permit stipulated in the Mining Code.
D.
For tourism
-
Architectural plans for tourist infrastructure realisation
works.
-
In the absence of a headquarters, a contract showing
attachment to an existing tourist reception structure for recreational activities.
E.
For small
and medium-sized enterprises operating in the health and education sectors
-
Ministerial authorisation is required.
Free Export Company
The parameters
of the scheme comprise :
-
Agriculture in the wide sense, including horticulture
and forestry, pastoral animal breeding, fisheries and aquaculture ; and
-
Industry (processing raw materials, assembly of semifinished
products).
A.
For all
companies
-
An application for eligibility addressed to the Minister
of Finance and the Economy c/o Director General of the Investment Promotion and Major Projects Agency (APIX), including
the nature of the activity and the place chosen to establish the business ;
-
A copy of an identity card, for sole-proprietor companies ;
-
An authenticated copy of the memorandum and articles
of association, for moral persons or the minutes of the constituent general
assembly ;
-
Projected trading accounts, for the next two (2) years of operation, with details of the accounts on the costs of raw
materials and semifinished products to be imported ;
-
A typed technical data sheet in ten (10) copies, showing
the targeted markets, the turnover distribution based on local sales and exports,
as well as the investment details if the latter are required for the realisation
of export objectives.
B.
For existing
companies
-
Financial statements of the preceding financial or fiscal
year;
-
An export declaration statement of the past two years,
stating the exported values and weights. The said declaration should be authenticated
by the Customs Services;
-
A value added tax (VAT) statement of the past two years,
authenticated by the Income Tax Department;
-
The manufacturing or production certificate (for agricultural
firms) of each exported product.
C.
Fuel
appropriation
-
Form showing the quantities of fuel and specifying the
equipment and vehicles using it and their specific consumption (per unit of
time for equipment and per 100 km for vehicles) ;
-
Copies of documents relative to the technical characteristics,
namely the specific consumption ;
For vehicles purchased within the framework of the authorisation,
indicate the mileage showing on the milometer, and specify the date on which
it was noted.
Senegalese
corporate law provides for various social forms of commercial companies :
§
General
partnership company ;
§
Limited
liability company;
§
Public
Company/Limited company;
§
Shareholding
company;
§
Company
owned by a sole proprietor ;
§
Limited
partnership company ;
§
Economic
interest group.
However,
the most common forms are the Limited Companies (S.A.) and Limited Liability
Companies (SARL) . The setting up costs of these companies are as follows :
|
|
Limited Liability Company (SARL ) |
Limited Company (SA) |
|
Equity Capital
|
1,000,000 |
10,000,000 |
|
Fiscal costs |
47,420 |
195,240 |
|
Administrative
costs |
75,900 |
85,900 |
|
Notary fees |
92,100 |
286,200 |
|
TOTAL |
215,420 |
567,340 |
In
CFA francs
(In Euro, 1 Euro = 655. 957 CFA F)
Labour relations are guided by the general conditions
of the regulations in force. These
are the Labour and Social Security Code, the national inter-professional collective
labour agreement as well as collective labour agreements for each sector of
activity for the most favourable provisions.
The guaranteed minimum
wage is 0.31 Euro per hour. For most of these collective labour agreements,
the monthly salary for Top Category workers is around 72.82 Euro per 173 working
hours per month.
Salary/wage scale by category
|
|
Minimum monthly
salary |
Maximum Monthly salary |
|
Maids and servants |
56,80 |
73,84 |
|
Drivers |
72,04 |
82,56 |
|
Labourers |
58,09 |
124,86
|
|
Employees |
63,27 |
127,79 |
|
Management, supervisors
and technicians in the same
category |
102,37 |
144,93 |
(in Euro ; 1 Euro
= 655. 957 F CFA )
Social benefit contributions/
Welfare costs Charges sociales sur salaires
Employers are subjected
to payroll charges, related to subscriptions to social institutions :
Social Security (CSS) and Pensions Fund (IPRES). The schedule/rate
is differentiated for top management and other workers
Table of contributions and income
tax
|
|
Rate |
|||||
|
|
Basic monthly
ceiling (en euro) |
Employer |
Employee |
Total |
||
Pensions scheme
(IPRES)
|
Standard scheme |
305.34 |
8.4% |
5.6% |
14% |
|
|
Management scheme
|
961 |
3.6% |
2.4% |
6%
|
||
Social Security
Fund
|
Industrial Accident |
91.60
|
1% or 3% or 5% (depending
on the organisa tion of the company) |
Exempted
|
|
|
Family Allowances
|
91.60 |
7% |
Exempted |
|
||
|
Industrial accident Fund
|
91.60 |
3% |
3% |
6% |
||
Deductions from
salary
|
TRIMF |
Gross salary |
Exempted |
Cf. Scale |
|
|
|
IRPP CFE |
Gross salary |
Exempted
|
Cf. Scale |
|
||
|
Senegalese |
Gross salary |
3% |
Exempted |
|
||
|
Expatriate |
Without deductions |
6% |
Exempted |
|
||
(In Euro, 1 Euro =
655. 957 CFAF)
1- ELECTRICITY
|
|
Fixed
monthly premium in Euro/ /KW |
Cost of energy (Euro
/kWh)
|
||
|
K1 peak hours (19h to 23h) |
K2 (the rest of the time ) |
|||
|
Moyenne tension
|
Short-term utilisation rate |
0.90 |
0.17 |
0.11 |
|
Standard rate |
3.80
|
0.10
|
0.08
|
|
|
Long term utilisation rate
|
0.90 |
0.08 |
0.06 |
|
|
High tension
|
9. 14 |
0.07 |
0.05 |
|
|
Low tension
|
2.69 |
0.11 |
0.12 |
|
2- PETROLEUM PRODUCTS
|
Euro / Inclusive of tax per ton, public
price
|
Euro / Inclusive of tax per litre
|
|
Diesel 399 |
Premium petrol 0.68 |
|
Fuel 180 250.33 |
Regular petrol 0.74 |
|
Fuel 380 233 |
Gasoil
(Diesel oil ? 0.50 |
|
Mixed petrol (pirogue ) 0.50 |
|
|
kerosene 0.36 |
3- WATER
Diameter (millimetres)
|
15 |
20 |
30
|
40 |
|
Connection Costs in euro |
50.30 + 6.10 stamp |
226.31 + 6.10 stamp |
603.51 + 9.16 stamp |
980.71 + 18.32 stamp |
|
Types of operation |
Categories of clients |
M3 consumption phase per 2 month period
|
Price of water / /m3 tax included |
|
Cities with mains services
(business concerns in the urban zones)
|
Households, 15 mm metres |
from 0 to 20
|
0.30
|
|
From 21 to
100
|
1
|
||
|
Over 100 |
1.15
|
||
|
Households, 20 mm metres
and more
|
From 0 to 100 |
1 |
|
|
Over 100 |
1.15 |
||
|
Market gardening |
From 0 to 3000 |
0.16 |
|
|
From 3001 to 20 000 |
0.22 |
||
|
Over 20 000 |
0.008 |
||
|
Households, 15 mm metres |
From 0 to 20 |
0.29 |
|
|
From 21 to 100 |
0.93 |
||
|
Over 100 |
1.06 |
||
|
Households, 20 mm metres
and more
|
From 0 to 100 |
0.93 |
|
|
Over 100 |
1.02 |
||
|
Cities without mains
services |
Market gardening |
From 0 to 3000 |
0.16 |
|
From 3001 to 20 000 |
0.22 |
||
|
Plus de 20 000 |
0.93 |
4- TELECOMMUNICATIONS
(in Euro, tax- free, add 18 % VAT)
|
Services
|
Telephone
and fax |
Telex |
|
|
Installation
|
Connections |
37.09 |
52.51 |
|
Security deposit |
67.17 |
151.14 |
|
|
Fiscal stamp |
6.10 |
6.10 |
|
|
Rental system
charge (payable bimonthly ) |
7.37 |
9.54 |
|
|
Local Calls |
Regular hours’ rate |
0.09 / 2 minutes |
|
|
Off-peak hours rate |
0.09 / 4 minutes |
||
|
Inter-city calls
|
Regular hours’ rate |
0.09 / 30 seconds
|
|
|
Tariff Peak Period |
0.09 / 1 minute |
||
|
International
calls to the African continent (1minute) |
Off-peak hours rate
|
0.49 / 1 minute
|
|
|
Off-peak hours rate |
0.25 / 1
minute |
||
|
International
calls to France and the rest of the world (1minute) |
Normal hours’ rate |
0.61 / 1
minute |
|
|
Off-peak hours rate |
0.38 / 1
minute |
||
Tariff (in Euro,
1 Euro = 655.957 CFAF, tax-free, add 18 % VAT)
NB : Normal
hours : from 8 a.m. to 8
p.m., every working day
Off-peak hours: from
8 p.m. to 8 a.m. , Monday to Friday, and the whole of Saturday, Sunday and public holidays.
SONATEL offers multiple
services for telephone and Internet connections. This company provides one
of the best telecommunications infrastructure in Africa. It is thus possible
to be connected permanently (through specialised links) or periodically (through
links switched on by a telephone network or RNIS). SONATEL sells only access
through specialised links. Other types of access are sold by various suppliers.
Rate of specialised
links on SONATEL’s Internet node :
Specialised
links
|
Connection fee
(Tax-free) |
Monthly rental
charge |
|
64 megabytes |
992 |
733 |
|
128 megabytes |
992 |
1215 |
|
256 megabytes |
992 |
1420 |
|
512 megabytes |
1527 |
2336 |
|
1024 megabytes
|
1527 |
2931 |
|
2048 megabytes |
1527 |
3847 |
Tariff (in Euro,
1 Euro = 655.957 CFAF, Tax-free, add 18 % VAT)
4-
SHIPMENT BY SEA (in Euro)
Cost of an average shipment by sea for a 20 feet container
|
From Dakar to : |
Rate |
|
French Port Atlantic |
2068 to 2595 |
|
North Port Europe
|
2068 to 3100 |
|
Portugal, Belgium, Germany |
2375 to 3370
|
|
United States (New
Jersey) |
2375 to 3370 |
(in Euro, 1 Euro = 655.957 CFAF)
5-
PORT RATES (in Euro)
Occupation of spaces
per m˛ and per annum
Tariff
|
|
|
2.10 |
|
(in Euro, 1 Euro = 655.957 CFA F)
Use of platforms
:
Tariff
|
|
(in Euro, 1 Euro = 655.957 FCFA)
6- INDUSTRIAL LAND AND BULIDINGS (in Euro)
Cost of industrial building construction: From 145.03
to 183.20 /m˛
Rent
at SODIDA, Euro/m˛/month :
Tariff
|
|
(in Euro, 1 Euro =
655.957 CFAF)