Launch of Territorial Cooperation Program of the European Union - Madeira-Azores-Canary (POMAC) 2014-2020

Launch of Territorial Cooperation Program of the European Union - Madeira-Azores-Canary (POMAC) 2014-2020

The Ministry of Economy, Finance and Planning and the European Union organize a meeting devoted to the launch of project proposals calls (POMAC) Tuesday, February 9, 2016 at 9:00 at the Radisson Blu hotel.

This meeting is part of the implementation of the Territorial Cooperation Program (PTC) of the European Union (POMAC) 2014-2020 and will be co-chaired by Mr. Amadou BA, Minister of Economy, Finance and Planning and His Excellency Joaquin Gonzalez-Ducay, Ambassador, Head of Delegation of the European Union in Senegal.

Cooperation-OECD State of Senegal

Cooperation-OECD State of Senegal: Senegal is taking key measures to improve fiscal transparency

Paris 02/04/2016 - Senegal signed today the Multilateral Convention on Mutual Administrative Assistance in Tax Matters. Senegal is the 11th African country to sign the Convention and the 93rd state to join

His Excellency Amadou Ba, Minister of Economy, Finance and Planning of Senegal signed the Convention with the Secretary General of the OECD Angel Gurría.

The Convention includes all forms of administrative assistance in tax matters: information exchange on request, spontaneous, automatic, fiscal controls abroad, simultaneous tax examinations and assistance in collection of tax debts while providing important safeguards for the protection of taxpayers' rights.

The Convention was developed jointly by the OECD and the Council of Europe in 1988 and amended in 2010 in response to the call by the G20 to align the international standard on exchange of information and open it to all countries, ensuring that developing countries could benefit from the new, more transparent environment.

Since then, the Convention has become a truly global instrument. It is considered the ideal instrument for the rapid implementation of the new standard for automatic exchange of information in tax matters on the financial accounts prepared by the OECD and the G20 as well as the automatic exchange of statements for each country in the OECD / G20 to fight against the erosion of the tax base and profit shifting (BEPS). It is also a powerful tool in the fight against illicit financial flows.

By signing the Convention, Senegal takes a new step in the fight against fraud and tax evasion, after joining the Global Forum on Transparency and Exchange of Information in 2012.

Concurrently with the signing of the Convention, Senegal has now also become the 32nd signatory of the Multilateral Agreement between the competent authorities for the automatic exchange of country-by-country declarations (CBC MCAA), which is based on the Article 6 of the Convention and sets up the framework for this type of exchange as provided in Action 13 of the BEPS project.

Under the "CbC MCAA 'tax administrations where a company operates will obtain information annually, beginning with the 2016 accounts, for global distribution of profits and taxes paid, and other indicators for the location of economic activity in multinational companies. It also covers information on the entities that operate in a particular country and the nature of these activities.

 

  Media inquiries should be directed to Pascal Saint-Amans (+33 1 45 24 91 08), Director of the Centre for Policy and Tax Administration (CTPA) or Office CTPA Communications.

 

Official launch of the Economic Mission of the Grand - Duchy of Luxembourg to Senegal

The Ministry of the Economy, Finance and Planning is organizing the official launching ceremony of the Economic Mission of the Grand Duchy of Luxembourg in Senegal on Monday February 1st, 2016 at 9:00 at the Radisson Blu Hotel, under the chairmanship of Mr. Amadou BA, Minister of Economy, Finance and Planning.

This mission is carried out in Senegal as part of the implementation of Senegal - Luxembourg Cooperation Program, following the recommendations of the last meeting of the Partnership Commission between our two countries held on September 2 and 3, 2014. The mission is composed by a large delegation of Luxembourg businessmen, led by Martine SCHOMMER, Ambassador, Director General of the Luxembourg Cooperation and Mr. Jeannot ERPELDING, Director of International Affairs of the Chamber of Commerce of the Grand Duchy of Luxembourg; they stay in Dakar from 1 to 2 February 2015.

Workshop to launch the development process of the National Implementation Strategy for the SDGs and Signing Ceremony of the funding agreement for the rehabilitation project of the RN 2 and opening up of île à Morphil

The Ministry of Economy, Finance and Planning, in collaboration with the United Nations Development Program (UNDP), is organizing the workshop launching the development process of the National Implementation Strategy for the Sustainable Development Goals (SDGs), Friday, January 22, 2016 from 9:00 at the King Fahd Palace Hotel, under the effective co-chairmanship of Mr. Amadou BA, Minister of Economy, Finance and Planning and Mrs Fatou Bintou DJIBO, United Nations Development Program (UNDP) resident Representative, Coordinator of the United Nations System in Senegal.

Following the official launch ceremony, Minister of Economy, Finance and Planning will proceed in the same place at 10:30 minutes with Mr. Mamadou Lamine Ndongo, Resident Representative of the African Development Bank (AfDB) to the signing of the funding agreement for the RN 2 rehabilitation Project and opening up the île à Morphil, amounting to FCFA 79.246 billion.

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KEY INDICATORS

  • Quarterly GDP: + 3.6% (Q2)
  • Harmonised Index: + 0.8% (Oct.)
  • National Index: + 0.4% (Sep.)
  • Export: -33.6% (August)
  • Import: -11.0% (August)
  • Export prices: -2.7% (August)
  • Import prices: -0.6% (August)
  • Inflation: -0.7% (S1)
  • Competitiveness: +0.2
  • Current account balance: -10% of GDP
  • Budget balance: -5.1% of GDP
  • Growth rate: +4.9%

MAP -MEFP

Contacts

Rue René Ndiaye x Avenue Carde, 4017 Dakar
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