UAE and Ivory Coast implement first income tax treaty, covering key taxes with 10% withholding rates.
The UAE Ministry of Finance has confirmed that the income tax treaty with the Ivory Coast entered into force on 14 December 2023. The treaty was signed on 24 November 2021.
The agreement applies to various Ivory Coast taxes. It includes taxes on industrial, commercial, and agricultural profits, as well as non-commercial profits. Income from wages, salaries, pensions, and annuities is also covered, along with income from movable capital and debt.
Additionally, the treaty applies to income from inherited land and property, including rental income. Finally, it covers the general income tax.
It also covers UAE income tax and corporate tax.
Under the treaty, withholding tax is set at 10% for dividends, interest, and royalties. The same rate also applies to fees for technical, managerial, or consultancy services.
The treaty applies from 1 January 2024.
