Thursday, October 2, 2025
HomePolicyECOWAS Supports Cabo Verde, Guinea-Bissau in Domesticating, Implementing Community Fiscal Directives

ECOWAS Supports Cabo Verde, Guinea-Bissau in Domesticating, Implementing Community Fiscal Directives

Date:

Related stories

Nigeria’s Non-oil Exports Rose $1.79 Billion in Q1 2025

Nigeria’s non-oil exports have risen to $1.791 billion in...

PROPEL with Singlife Crosses 1,000-Adviser Milestone

PROPEL with Singlife, the one-stop shared services hub for...

Flutterwave CEO Bets on Stablecoins as Africa’s Next Financial Leap

At high-profile events in Riyadh, namely Money 20/20 Middle...

Bank Celebrates Fifth Edition of Afreximbank TV

Afreximbank TV, a digital TV channel wholly owned and...

Elon Musk Becomes First Wealthy Person Worth $500 Billion, Says Forbes Magazine

Elon Musk on Thursday became the first person estimated...
- Advertisment -spot_imgspot_img

The Economic Community of West African States (ECOWAS), through its Directorate of Customs Union and Taxation, conducted consultative missions to Cabo Verde and Guinea-Bissau from August 16 to 23 2025 to follow up on the domestication and implementation of regional fiscal directives.

Led by Salifou Tiemtore, Director of Customs Union and Taxation, and Darlingston Y. Talery, Principal Programme Officer for Domestic Taxes, the ECOWAS delegation held high-level consultations with the Ministers of Finance of Cabo Verde and Guinea-Bissau, Dr. Olavo Avelino Garcia Correia and Honourable Ilídio Vieira Té, as well as senior officials from the Directorate-General of Contributions and Taxes.

The missions focused on assessing the progress made by the two countries in aligning their national fiscal frameworks with eight ECOWAS Community Directives and two Supplementary Acts, including measures on Value Added Tax (VAT), Excise Duties, Transfer Pricing, Beneficial Ownership, and Double Taxation.

The discussions also addressed the establishment of institutional mechanisms to monitor fiscal transition processes.

In Guinea-Bissau, the delegation commended the implementation of a VAT regime in January 2025, which has already contributed to increased revenue collection.

The team also welcomed the establishment of a dedicated unit preparing the country’s first Tax Expenditure Report for 2024 and 2025, as a step towards greater transparency and regional compliance.

In Cabo Verde, the mission noted the strong political commitment to fiscal integration and applauded the ongoing reforms at the Ministry of Finance, which align with ECOWAS regional objectives.

Despite progress, the delegation identified persisting challenges affecting full implementation of the fiscal instruments, notably limited human and technical capacity, financial constraints, political instability in Guinea-Bissau, and the need for enhanced institutional coordination.

At the conclusion of the mission, the ECOWAS Commission and the two Member States agreed to reinforce efforts through an Aide Mémoire that outlines steps for the domestication and implementation of regional tax instruments.

ECOWAS reaffirmed its commitment to provide continued technical and financial assistance to support member states in strengthening national fiscal systems in accordance with regional standards.

The delegation expressed appreciation to the ministers and their technical teams for their collaboration, and reiterated ECOWAS’ determination to promote transparent, harmonised, and efficient tax systems that advance regional integration and sustainable revenue mobilisation.

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories

- Advertisment -spot_img

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!