Senegal presents broadening commerce and financing prospects for businesses as well as an alluring destination for businesses looking to accommodate the West African regional industry. Senegal is a secure democratic country with fairly developed facilities and aspirational proposals to expand private funding. The government intends to promote equitable and durable development through socioeconomic reforms.
Senegal is a participant of the Economic Community of West African States (ECOWAS), which aims to establish a 300 million-person regional trading bloc. However, the approved ECOWAS Economic Liberalization Scheme has not yet been fully implemented. It has ratified and put into practice the ECOWAS Common Foreign Tariff Scheme and normally collects duties in a fair and law-based manner. Senegal took a step toward a liberalized economy for products and services throughout the entire continent when it joined the African Continental Trading Bloc accord. The country is one of the 27 nations that have approved the AfCFTA. The AfCFTA’s full adoption is currently being negotiated.
Around 15 nations, notably Egypt, Canada, Belgium, Kuwait, France, Lebanon, Mauritania, Tunisia, Morocco, Malaysia, Mauritius, Norway, Qatar, Chinese Taipei, and Portugal, have agreements in place to prevent double taxation.
Import tariffs
Senegal implemented a new tariff structure in January 2000 that complies with the common external tax structure decided upon by members of the West African Financial and Economic Community (WAEMU). It now has four straightforward tariff rate categories to choose from:
- 0% for products related to culture and science, farm produce, and electronics;
- 5% for industrial raw materials, petroleum products, and grains;
- 10% on semi-finished commodities, luxury inputs, gasoline, and fuel oil; and
- 20% for consumption goods, capital goods, locally produced computers, and vehicles.
There are, however, a variety of additional import duties, with a cumulative maximum rate of 52%, as well as an 18% value-added tax (VAT), which is imposed on all imports. A few final bound duties are also mentioned in Table 1.1.
Senegal eliminated its import licensing system in 1982, granting equal access to the market to all nations. Previously, only goods from the European Union and the Franc Area could be transferred without a license. The farming and industrial goods that underpin the Senegalese industry are subject to some important limitations.
Table 1.1
| Products | Final bound duties | ||
| AVG | Duty-free in % | Max | |
| Clothes | 30 | 0 | 30 |
| Shoes | 30 | 0 | 30 |
| Dairy | 27 | 0 | 30 |
| Cereals | 29.3 | 0 | 30 |
| Beverages | 29.7 | 0 | 30 |
| Cotton | 30 | 0 | 30 |
| Chemicals | 30 | 0 | 30 |
Requirements
The rules and paperwork needed to bring products into the country vary depending on the type of items. The following details these requirements:
Personal goods
By presenting the following documentation, you are permitted to bring into the nation furniture, home goods, and other personal belongings.
- Original invoices that are no more than six months old;
- Thorough inventories that show the precise amount of new effects’ invoices;
- New effects;
- Departure certificates; copies of valid passports; and assignment certificates.
Vehicles
Only used automobiles that are no older than 8 years old may be imported with a 58% tax. The following things are required for importing vehicles.
The following documents are required:
- A duplicate of the bill of lading; the owner’s passport;
- An invoice for the car;
- A non-sale confirmation;
- And a certificate of the address change.
In addition to the items listed above, the following documentation is needed to trade internationally into Senegal:
- The commercial receipt from the provider,
- The cargo bill,
- The credential of origin
- The packing list,
- The permission to import goods subject to the sales target,
- The insurance credential, and
- The preliminary statement of import.
Depending on the type of import, additional documentation can be needed.
