Burkina Faso is located in West Africa, with a population of more than 20 million people. Mining and agriculture are 2 of the key industries. There are several common business entities in Burkina Faso, and the corporate tax rate vary based on the type of company. The tax year corresponds to the calendar year, and returns are due by April 30 each year. Equal, advance tax payments are due in January, July, and October.
Labor and Payroll Considerations in Burkina Faso:
- Minimum wage only applies to the formal job sector, and is 34,664 CFA francs per month
- Employment contracts can be written or oral
- Payroll tax is 3% for employers
- Both employers and employees contribute to social security
- Foreign nationals who do not reside in the Economic Community of West African States (ECOWAS) require an extended visa to work in Burkina Faso
Getting started in Burkina Faso can be challenging, but Blue Marble can help simplify payroll and compliance with our cloud-based technology. Customized reporting gives you real-time views across all countries and currencies, and our US-based service team and in-country experts are here to help when questions come up. Learn more about payroll in Burkina Faso: click here to get started