Senegal has adopted two texts providing real advantages to companies eligible to operate within these schemes : they are the Investment (CI) and the Free Export Company (EFE) Code. These texts contain incentive provisions to enable companies to be more competitive, at controlled costs.

• Avantages du Code des Investissements (CI)
• Advantages of the Free Export Company scheme (EFE)

Advantages of the Investment Code (CI)

Eligibility to operate under the Investment Code provides investors with several advantages, depending on whether the company is eligible under the common regime or falls within the priority regime. (For further details download the table on Investment Code schemes and advantages). (Download)
The duration of the advantages depends on the zone in which the company is based :

5 years for the Region of Dakar, including the capital
7 years for the Region of Thies (70 km from Dakar)
10 years for the Region of Kaolack (140 - 200 km from Dakar)
12 years for the Region of Tambacounda (200 - 400 km from Dakar).

Investment Advantages (import duties + VAT)
1. Exemption from import duties and taxes on equipment and materials that are neither produced nor manufactured in Senegal and used specifically in the production or exploitation process within the framework of the approved programme ;
2. Exemption from VAT invoiced by local suppliers of goods, services and works necessary for the realisation of the approved programme.

Advantages related to (internal tax)
1. Exemption from the flat-rate taxes paid by employers as part of the salaries paid to employees of Senegalese nationality
2. Possibility of renewing fixed-term contracts for five years.

Advantages specific to the priority schemes
1. Exemption from the minimum flat-rate tax
2. Exemption from licence levy (Zones B, C and D)
3. Dispensed from the labour law as regards dismissals for economic reasons.

Advantages for Companies operating in the development of local resources
· Exemption from the minimum flat-rate tax.

Advantages of the Free Export Company (EFE)

Eligibility to operate under the Free Export Company scheme provides many advantages, including those listed hereunder. For more details on the conditions of eligibility to and advantages of the Free Export Company status, you may download the document. (Download)

Tax benefits :
- Exemption from securities income deducted dividends by the registered company from distributed dividends;
- Exemption from all forms of taxes based on salaries, particularly the flat-rate tax to be paid by the employers ;
- Exemption from all registration fees and stamp duties, particularly those paid during the constitution and modification of company status ;
- Exemption from patent levy, land tax on built or unbuilt property and licence levy ;
- Corporate tax reduced to the 15% preferential rate.

Customs benefits :
- Exemption from import and export duties and taxes on capital goods, equipment, raw materials and finished or semifinished products ;
- Exemption from import and export duties and taxes on finished products manufactured by the registered company ;
- Imported goods may be used for an unlimited period of time;
- Exemption from all local duties, customs taxes and internal taxes on local purchases ;
- Exemption from customs duties on utility vehicles, tourist vehicles and other means of transportation meant for production ;
- Exemption from flag restrictions for maritime and air transport.

Guarantees granted to eligible companies :

- Authorisation enabling them, within the framework of their exploitation operations, to transfer to countries outside the free zone, all funds needed for the realisation of investments and commercial and financial operations ;
- Authorisation to employees, their collaborators, share holders and foreign creditors, to transfer funds to countries outside the free zone, in accordance with foreign exchange regulations ;
- No discriminatory measure in relation to those applicable to companies ineligible under the said status, may be applied to free export companies ;
- Freedom to recruit Senegalese or foreign staff.