Tax transparency: Ivory Coast strengthens its foothold in the global economy

 With its adherence to the OECD Multilateral Convention on Mutual Administrative Assistance in Tax Matters, Côte d'Ivoire takes a significant step forward in consolidating its economic governance framework. 

The accession ceremony took place in Paris, at the OECD headquarters, where His Excellency Mr. Maurice Kouakou Bandaman, Ambassador of the Republic of Côte d'Ivoire to the French Republic and the Principality of Monaco, officially signed the Convention on behalf of the Ivorian state on April 23, 2025. With this act, Côte d'Ivoire becomes the 150th signatory state of this international legal instrument, recognized as the most ambitious tax cooperation mechanism globally. 

This initiative illustrates a significant advancement in Ivorian economic diplomacy and clearly reflects the authorities' desire to align with international standards regarding tax transparency, combating fraud, and preventing tax evasion. Furthermore, it enhances the country's credibility on the international financial stage. 

Now a party to this Convention, Côte d'Ivoire gains access to an extensive network of over 8,000 bilateral tax information exchange agreements with 149 other jurisdictions, including all major financial centers. The Convention covers a wide range of cooperation modalities: exchanges of information upon request, spontaneous or automatic exchanges, foreign tax audits, joint tax controls, and assistance in the collection of tax debts. It also ensures the rigorous protection of taxpayers' rights. 

For economic actors, this accession represents a strong signal. It attests to the authorities' commitment to ensuring a stable, predictable, and internationally compliant tax environment, thereby enhancing Côte d'Ivoire's attractiveness to foreign investors. 

In a global context where adherence to international tax standards is a determining factor for institutional investors, Côte d'Ivoire's decision demonstrates its commitment to the principles of transparency, accountability, and good governance. 

As a reminder, this OECD Multilateral Convention on Mutual Administrative Assistance in Tax Matters, adopted in November 2016, also serves as the legal foundation for the Common Reporting Standard (CRS), developed by the OECD in collaboration with G20 countries. This standard enables the automatic exchange of information on financial accounts held abroad, serving as an essential lever in the fight against tax opacity and illicit financial flows. 

Source: OECD, Written by MEPD Web Portal