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ARTICLE · 03 NOVEMBER 2026

Tax On Financial Activities (TAF)

SCP HOUDA & ASSOCIES
SCP HOUDA & ASSOCIES
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SCP HOUDA & ASSOCIES

SCP HOUDA & ASSOCIES

West Africa, and especially Senegal and Cote d’Ivoire, is one of the most promising emerging...

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Senegal's financial transaction taxation system presents unique challenges and opportunities for businesses and investors operating in West Africa. This analysis examines the key tax obligations, compliance requirements, and strategic considerations that shape financial operations in Senegal's evolving regulatory environment.

SenegalTax
Scp Houda & Associes
Scp Houda & Associes

Understanding the taxation of financial transactions in Senegal

1 WHO IS CONCERNED?

The TAF applies to transactions carried out by:

  • Banks and financial institutions licensed in Senegal
  • financial intermediaries
  • Money transfer operators
  • Exchange offices and money changers

2 WHAT DOES THE TAF TAX?

It notably applies to remuneration earned on financial transactions:

  • Commissions
  • Interest
  • Fees
  • Financial charges
  • Other compensations related to financial services

Excluded: postal mandate.

3 MAIN EXEMPTIONS

Certain transactions benefit frorn an exemption, including:

  • Transactions between banks
  • Transact ions carried by thE BCEAO
  • Banque Agricole du Sénégal
  • Decentralized financial systems

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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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