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Burkina Faso to apply new taxes on real estate, cars, gambling

Xinhua, August 12, 2016 Adjust font size:

Burkina Faso will make effective, from September 1 this year onward, taxation on gambling, imported passenger cars of over 13 horsepower, beer and real estate.

Adama Badolo, General-director for tax administration, disclosed this during a press conference in the capital Ouagadougou on Thursday.

Tax on wagering and gambling amount to 10 percent and will apply to gains equal to or greater than 100,000 CFA Francs (about 169.8 US Dollars), while taxation on beer will increase from 25 to 30 percent.

Five percent tax will apply to passenger cars of over 13 horsepower in the West African country which registered an import of roughly 35,000 of such cars per year.

Meanwhile, 0.1 percent tax has been decided regarding residential constructions and 0.2 percent on buildings of other purpose and unbuilt lands.

Mr. Adama Badolo also said these taxation measures have been taken to mobilize more funds to support the government and to finance development policy in the country. Endit