Information about Benin Minimum wage and taxes.

Information about minimum wage and taxes in Benin is as follows: As of 2021, the minimum wage in Benin is 40,000 CFA Francs per month. This wage is valid for workers in all sectors. The tax system in Benin is complex and diverse. There are various types of taxes such as income tax, corporate tax, ad valorem tax (VAT). Income tax rates vary depending on income brackets. For example, as of 2021, the income tax rate for those with income less than 25,000 CFA Francs is 0%, while for those with income more than 30,000 CFA Francs, the rate is 10%. Corporate tax is determined according to the profits of companies and its rate is 30%. Valuable tax (VAT) is applied as consumption tax. There are different rates for different goods and services. For example, 0% VAT is applied for food and basic necessities, and 18% VAT is applied for standard goods and services. This information provides an overview and the tax system may change from time to time. Therefore, it is important to seek up-to-date information on tax matters from official tax authorities or financial advisors.

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