A New Era of Fiscal Compliance: Côte d’Ivoire’s Transition to Electronic Invoicing
Simplifying Taxation: The Introduction of Standardized Electronic Invoicing by the DGI
Côte d’Ivoire is making significant strides toward modernizing its tax system with the upcoming introduction of mandatory standardized electronic invoicing in January 2025. This initiative, spearheaded by the Direction Générale des Impôts (DGI), aims to enhance fiscal compliance, improve tax administration, and promote a more efficient business environment.
Key Highlights of the New System
During a recent event hosted by the European Chamber of Commerce in Côte d’Ivoire (EUROCHAM), the DGI elaborated on the implementation plan for this transformative measure. Here’s what businesses need to know:
- Legal Foundation: The legislation supporting standardized electronic invoicing has been approved and awaits promulgation. A ministerial decree will soon outline the phased implementation process.
- Transition Timeline: A transitional period will extend until the end of Q1 2025, allowing businesses time to adapt to the new system.
- Scope of Application: The system will apply to all economic operators, ensuring that all elements of traditional paper invoices are incorporated into electronic versions.
Simplifying Operations for Large Enterprises
For larger businesses, the transition to electronic invoicing will be relatively seamless, with the FNE platform facilitating certification of all issued invoices. The DGI has designed the system to preserve business practices while ensuring compliance with tax regulations.
Challenges for SMEs
Smaller enterprises may face more complex implementation processes, but the DGI is committed to providing guidance and support to ensure smooth adoption.
Ensuring Compliance and Security
- Real-Time Numbering: Invoices will be digitally numbered in real-time by the DGI, enhancing traceability and fiscal control.
- Electronic Tax Stamps: All invoices must carry an electronic tax stamp, authenticated and validated by the DGI.
- Archiving Requirements: Businesses must archive electronic invoices for 6 to 10 years, depending on the source of the information.
EUROCHAM’s Endorsement
Michel Clier, Chair of the Legal and Tax Commission at EUROCHAM, applauded the DGI for addressing the concerns of its members and clarifying the technical aspects of electronic invoicing. He emphasized that this project aligns with the vision of a modernized Côte d’Ivoire.
A Modernized Vision for Côte d’Ivoire
This move builds on the groundwork laid in 2019, when Côte d’Ivoire introduced a certified invoicing system for real-time electronic declaration. The adoption of standardized electronic invoicing solidifies the country’s commitment to fiscal innovation and economic transparency, marking a significant step toward a digitally-driven future.
