In Côte d’Ivoire, money transfers operations are performed either by banks or independent operators.

Money transfer operations can concerned one of the following:

• Fund transfer (payment made from one bank to another) ;
• Electronic fund transfer (payment made with bank credit cards) ;
• Cash transfer (usually done by authorized companies or ivorian phone operators).

Money transfer and fund transfer are both performed only by banks.

As for cash transfer, it is in practice executed by banks or authorized companies including phone operators.

A note No 1265/MPMB/DGI/DLCD-SDPD/ASO/ of June 2015 relating to the tax regime applicable to money transfer operations regarding VAT and BOT and issued by the head of tax office defines the tax regime applicable to these type of transactions.

CONTENT

Fund transfer and money transfer are both only executed by banks. So, in this case, banking operations tax must be paid.

For reminder, the rate is set at 10%.

Regarding cash transfer, it is not specific to banks. So, Companies dealing with this service are liable to VAT at the standard rate of 18%.