Invoicing and Tax regulation in Bénin
Invoicing Regulation in Bénin
In Bénin, invoicing regulations stipulate that all businesses must issue an invoice for goods or services delivered. While it's not mandatory to include VAT on invoices, to claim VAT refunds, you must provide invoices. Therefore, businesses should ensure to include relevant details such as date and location of issue, the name and address of both parties, etc.
Real-time Reporting / Fiscalization in Bénin
As at date, there are no specific regulations regarding real-time reporting or fiscalization in Bénin. This is expected to change in the future as the nation continues to digitize its taxation system. For the current system, businesses must report taxes manually following local regulations.
E-invoicing in Bénin
Currently, e-invoicing is not mandatory in Bénin. Any business that wishes to implement electronic invoicing can do so at their own discretion. However, companies leveraging e-invoicing must ensure that all digital invoices are identifiable and readable, and persistent and integral according to CGCP guidelines.
VAT/GST/Tax Compliance in Bénin
For tax compliance in Bénin, businesses must abide by a VAT rate of 18%. Import declarations, regular updates, and payments to the statutory tax office are required of businesses, as per the Bénin tax legislation. Corporations must report monthly while small businesses and independent workers can file trimestrially. Non-compliance attracts penalties depending on the violation's gravity and frequency. For B2G and B2C businesses, the same tax legislation applies.