Benin MOF Presents 2026 Budget Speech

The Beninese Ministry of Economy and Finance Oct. 24 presented the 2026 budget speech. The budget speech includes measures to: 1) reduce to 1 percent from 5 percent of the customs value, the statistical tax rate for re-exports of petroleum products and imports of raw materials; 2) exempt VAT on imports of new equipment by small and medium-sized enterprises (SMEs) not subject to a special tax regime; 3) exempt soybean exports after the fiscal year from duties and taxes; 4) extend the input VAT deduction for costs to purchase fuel used for company vehicles and machinery; 5) waive late payment ...