#

Business Reforms in Senegal

= Doing Business reform making it easier to do business. Negative =  Change making it more difficult to do business.

DB2017

Registering Property: Senegal made registering property easier by increasing the transparency at its land registry and cadastre.

Getting Credit: Senegal improved access to credit information by establishing a new credit bureau.

Paying Taxes: Senegal made paying taxes less costly by reducing the maximum cap for corporate income tax and implementing more efficient accounting systems and software.

Resolving Insolvency: Senegal made resolving insolvency easier by introducing a new conciliation procedure for companies in financial difficulties and a simplified preventive settlement procedure for small companies.

DB2016

Starting a Business: Senegal made starting a business easier by reducing the minimum capital requirement.

Getting Electricity: The utility in Senegal made getting an electricity connection less time-consuming by streamlining the review of applications and the process for the final connection as well as by reducing the time needed to issue an excavation permit. It also made getting electricity less costly by reducing the security deposit.

Registering Property: Senegal made transferring property less costly by lowering the property transfer tax.

Enforcing Contracts: Senegal made enforcing contracts easier by introducing a law regulating voluntary mediation.

DB2015

Starting a Business: Senegal made starting a business easier by reducing the minimum capital requirement.

Dealing with Construction Permits: Senegal made dealing with construction permits less time-consuming by reducing the time for processing building permit applications.

Registering Property: Senegal made it easier to transfer property by replacing the authorization from the tax authority with a notification and setting up a single step at the land registry.

Getting Credit: Senegal improved its credit information system by introducing regulations developed by the West African Economic and Monetary Union that govern the licensing and operation of credit bureaus.

Protecting Minority Investors: Senegal strengthened minority investor protections by introducing greater requirements for disclosure of related-party transactions to the board of directors; by making it possible for shareholders to inspect the documents pertaining to related-party transactions and to appoint auditors to conduct an inspection of such transactions; and by making it possible for shareholder plaintiffs to request from the other party, and from witnesses, documents relevant to the subject matter of the claim during the trial.

Paying Taxes: Senegal made paying taxes easier for companies by abolishing the vehicle tax and making it possible to download the declaration forms for VAT online.

DB2014

Registering Property: Senegal made transferring property easier by reducing the property transfer tax.

Paying Taxes: Senegal made paying taxes more costly by increasing the corporate income tax rate. At the same time, Senegal facilitated tax payments by making tax forms available online and creating the Center for Medium Enterprises.

DB2012

Starting a Business: Senegal made starting a business easier by replacing the requirement for a copy of the founders’ criminal records with one for a sworn declaration at the time of the company’s registration.

Dealing with Construction Permits: Senegal made obtaining a building permit more expensive by increasing the cost.

Getting Credit: Access to credit in Senegal was improved through amendments to the OHADA Uniform Act on Secured Transactions that broaden the range of assets that can be used as collateral (including future assets), extend the security interest to the proceeds of the original asset and introduce the possibility of out-of-court enforcement.

Trading across Borders: Senegal made trading across borders less costly by opening the market for transport, which increased competition.

Enforcing Contracts: Senegal made enforcing contracts easier by launching specialized commercial chambers in the court.

DB2010

Trading across Borders: Senegal made trading across borders easier and less time consuming by introducing improvements at the container terminal at the port of Dakar and increasing the number of agencies involved in trade facilitation.

DB2009

Starting a Business: Senegal reduced the time needed to start a business by launching a one-stop shop, which allowed several start-up procedures to be merged into one.

Registering Property: Senegal reduced the time needed to transfer property by introducing time limits at the land registry—for issuing registry certificates and registering property—and at the Directorate of Taxes and Property.

Trading across Borders: Senegal reduced the time and documentation requirements for exporting and importing by introducing single-window, electronic data interchange and risk-based inspection systems; extending the operating hours of customs; improving port and road infrastructure; and reducing the number of checkpoints.