Ceasing your tax residency in Ivory Coast is a significant decision that involves several legal steps. Properly understanding and executing these steps ensures a smooth transition and compliance with Ivorian tax laws.
Step 1: Notification of Intent
The first step is to formally notify the tax authorities of your intent to cease your tax residency. This involves submitting a written declaration stating your intention to leave the country and cease tax residency. Ensure this declaration is signed and dated.
Step 2: Settle Outstanding Taxes
Before ceasing your tax residency, it is crucial to settle any outstanding tax liabilities. This includes paying any pending income taxes, property taxes, and other applicable taxes. Obtain a tax clearance certificate from the tax authorities as proof of settlement.
Step 3: Deregister from Tax Authorities
Submit a formal request to deregister from the tax authorities. This involves filling out the required forms and providing necessary documentation, such as your tax identification number and proof of tax clearance. Ensure you receive confirmation of deregistration.
Step 4: Update Personal Records
Update your personal records with relevant institutions, including banks, employers, and social security. Inform them of your change in tax residency status and provide any necessary documentation to update their records.
Step 5: Compliance with Exit Tax
Depending on your financial situation, you may be subject to an exit tax. Review the tax laws to understand if this applies to you and ensure compliance by calculating and paying any required exit tax before departure.
Step 6: Retain Documentation
Retain copies of all correspondence, declarations, and confirmations received during the process. This documentation may be required for future reference or in case of any disputes.
Legal References
- General Tax Code of Ivory Coast
- Law No. 2019-708 relating to the Tax Procedures Code
- Decree No. 2019-939 on the application of the General Tax Code
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