A graduated income tax ranging from 5% to 55% is imposed on civil servants and others who are paid fixed salaries or who have sufficient income. A complementary tax is levied at 1% for incomes up to CFA FR 100,000 per month and 5.5% on incomes over that figure. Additional taxes are levied on business transactions and on real property. There is a value-added tax on all goods and services at rates ranging from 5% to 14%. In April 1995, a value-added tax (VAT) was introduced, replacing three turnover taxes. The standard VAT rate in 2002 was 18%,. Other taxes include a 2.6% payroll tax, a property tax, and a financial transactions tax.
The corporate profits tax rate is 40% after deduction for business expenses. There is a 20% withholding tax on dividends. Government oil revenues are derived from royalty payments, a tax on petroleum company profits, a tax on exploration permits, and dividends paid by the petroleum companies.
I would like to know what % would be payable on this amount.