The nations of West Africa persist in taking strides against France.
The latest move, directed at France's colonial past, has emanated from Burkina Faso.
The Ministry of Foreign Affairs of Burkina Faso has declared the cessation of tax privileges extended to France, marking a significant step in the ongoing reevaluation of their bilateral relations.
In a communiqué dispatched from Burkina Faso's Ministry of Foreign Affairs to its French counterpart, it is expounded that the "Prevention of Double Taxation" agreement, which had hitherto favored French companies and citizens, stands rescinded. The notification stipulates that the termination shall come into effect within a span of three months.
Under the purview of this agreement, French corporations and citizens were remitting taxes on their earnings in Burkina Faso to France, enjoying exemptions from several tax categories within Burkina Faso's jurisdiction. This accord, notably advantageous to the multinational French corporations operating within Burkina Faso, has now been abrogated.
With the rescission of this accord, French entities shall henceforth remit their income taxes to Burkina Faso, where they are generated. This decision is projected to restore substantial revenue to Burkina Faso's coffers, alleviating the protracted loss of income that the nation had endured due to the agreement.
Furthermore, it is underscored that France, in response to Burkina Faso's support for the recent coup in Niger, had suspended development assistance and budgetary support to Burkina Faso merely a few days ago. This series of diplomatic and economic maneuvers underscores the dynamic evolution in the relationship between Burkina Faso and France, echoing the shifting narratives and priorities in the broader realm of international affairs.
