- Law No. 2023-01, the 2024 Finance Law, has been posted online by the Beninese Director General of Taxes.
- The law includes measures for VAT and customs duties exemptions for qualifying vehicles and aircraft, as well as their spare parts, from Jan. 1, 2024, through Dec. 31, 2024.
- It also provides customs benefits and VAT exemption for new four-wheeled vehicles imported, manufactured, or sold from Jan. 1, 2024, through Dec. 31, 2024.
- Containers of compressed or liquefied gas, along with their accessories, will also be exempted from VAT and customs duties and taxes from Jan. 1, 2024, through Dec. 31, 2024.
- Small and medium-sized enterprises (SMEs) not subject to a special tax regime will receive VAT and customs duties exemptions on imported materials and equipment used in artisan works and industrial unit construction.
- The law will come into effect on Jan. 1, 2024.
Source: news.bloombergtax.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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