Calcul des IRPP avec Excel selon le régime du foyer fiscal au Congo-Brazzaville (mise à jour)

NB: this arclicle is published to help employees who deal with Congolese Taxes system (I mean Congo-Brazzaville) to determine their Tax on revenue by themselves in compliance with 2016 fiscal law.

Note pour les lecteurs francophones: cet article est une mise a jour de celui qui avait ete publie sur ce blog en 2012 et qui appliquait la loi de finance N°12-2009 du 29/12/2009 exercice 2010. Depuis, les lois de finances exercice 2014 et 2016 ont revise a la baisse les tranches d'impots sur le revenu des personnes physiques en sigle IRPP. En resume, apres avoir permis aux bas salaires bruts de payer moins d'impots avec la revision de 2014, la derniere de 2016 et qui est deja disponible sur le site de la Direction Generale des Impots et des domaines (http://impots-gouv.cg/documentation/loisdefinances) permet une relative reduction d'IRPP pour les hauts revenus brut (par exemple, si vous avez un salaire brut d'au moins 1,000,000 FCFA, en appliquant cette revision de l'article 95 du tome 1 du code general des impots, vous beneficiez desormais d'une reduction d'au moins 5,86 % dans le calcul de vos acomptes d'IRPP, et in fine, dans le calcul de l'IRPP de votre revenu global).

Aujourd'hui j'ai décidé de laisser un peu de coté les sujets d'ordre théorique que j'ai développé ces derniers jours pour aborder un sujet d'ordre technique sans être des moindres. Chacun en effet se préoccupe de l'impact que peut avoir les impôts sur le niveau de son revenu (on ne peut rien face à cette pratique puisque par principe tout revenu est imposable). Il est clair qu' il y'a plusieurs logiciels qui ont été paramétrés de manière à calculer l'impôt sur le revenu des personnes physiques qui est non seulement un impôt sur salaire à la charge de l'employé, mais aussi un impôt global sur le revenu annuel peu importe les catégories. Toutefois, Excel reste le meilleur logiciel de calcul gratuit.

Nous allons donc développer la formule de l'IRPP conformément au code générale des impôts du Congo-Brazzaville (on peut toujours l'adapter à d'autres code, le principe de la formule étant le même) pour la catégorie de revenu"salaire".

Au cours de l'année, l'employeur reverse des acomptes d'IRPP prélevés sur les salaires au plus tard tous les 20 du mois suivant celui de la période de référence. A la clôture de l'exercice, après le dépôt de la Déclaration Annuelle des Salaires (en sigle DAS), une régularisation d'impôts est effectuée après le calcul de l'IRPP catégoriel annuel (il en découle soient des crédits d'impôts soient des dettes d'impôts).

Venons en maintenant au texte: selon l'article 95 (nouveau) du code général des impôts et la loi de finance du 31/12/2015 portant exercice 2016, après avoir calculé le Quotient familial; par tranche l'IRPP d'une part est déterminé de la manière suivante:

- Pour un brut annuel< 600,000 (c'est a dire un brut constant de 50000 par mois); Pas d'impôt (depuis 2010, le legislateur n'est plus revenu sur cette question, qui reste donc applicable)

- Pour tout Quotient familial<= 464,000: 1%

- Pour 464,000

- Pour 1,000,000

- et pour tout Quotient familial >3 000 000: 40%

NB: Vous pouvez noter que la deniere tranche de quotient familial > 8000,000 et qui etait jusque la impose au taux de 45% a simplement ete supprimee.

La somme des différentes tranches multipliée par le nombre de part et divisée par 12 mois (s'il s'agit d'acompte) équivaut à l'IRPP.

Etant donné que le calcul de l'IRPP se fait de façon cumulative, nous avons utilisé la formule SI(ET....).

Ainsi pour un employé célibataire avec 1 enfant et ayant un salaire brut mensuel de 1,000,000 FCFA, voici le tableau qui résume le calcul de son acompte d'IRPP dans un classeur Excel:

Agent DUPONT:

Base

imposable annuelle

Quotient

familial

Acompte

d'IRPP(cf Lien joint ci-dessous pour les détails relatifs aux calculs)

=A2*4%=

40 000

=(A2-B2)*80%=

768 000

=C2*12=

9 216 000

=D2/E2=

3,686,400

...=253,720 (au lieu de 269,517 entre 2010 et 2013 et 258,787 FCFA entre le 01/01/2014 et le 31/12/2015)

Voilà qui montre qu'on peut parfaitement tenir une comptabilité "Paie" sous Excel....

NB: Le nombre de parts varie de 1 à 6,5. Le salarié lui-même représente 1 part; et s'il est célibataite avec enfants, l'ainé représente 1 part et les autres enfants 0,5 part chacun. S'il est marié, sa femme représente 1 part et ses enfants représentent 0,5 part chacun (y compris l'ainé). Ceci dit, on atteint la limite de 6.5 parts lorsqu'on est célibataire avec 10 enfants ou marié avec 9 enfants (les épouses légales et les enfants qui viennent en sus ne sont pas pris en compte).

.

https://docs.google.com/spreadsheets/d/1EGY6lGaLY9TxWfOiERK2ZfvJTrJT9pO_ATDr8lVaft0/edit#gid=411438600

(NB: pour accéder au classeur, veuillez sélectionner l'adresser ci-dessus, puis faites un clic droit avec votre souris et cliquer sur le lien acceder à https://docs.google.com/spreadsheets/d/1EGY6lGaLY9TxWfOiERK2ZfvJTrJT9pO_ATDr8lVaft0/edit#gid=411438600 qui vient juste après la commande copier de la fenetre qui s'affiche.

https://docs.google.com/spreadsheets/d/1EGY6lGaLY9TxWfOiERK2ZfvJTrJT9pO_ATDr8lVaft0/edit#gid=411438600

Why two different economies which depend on USD dollar and which adopted IFRS as local GAAP are treated differently on FOREX?

As we have shown last time, there is no a worldwide fair exchange market. In fact, the international Monetary System is made up by a limited number of a couple key floating currencies that flow between themselves. In fact, any currency can officially be converted to another one based on the parity of purchasing power concept. In the reality, since we forgave the Gold Exchange Standard[i] in 1971, we have mainly three monetary areas symbolized by the dollar USD, the Euro and the Russian ruble (as of 01/01/1999, 26 domestic currencies were attached to USD, 14 to EURO and 9 to Ruble). We properly call this currencies panels. By the way, international institutions like IMF or FIDA have their own currency[ii].

Since work as a team is more efficient than struggling alone, South African monetary authorities decided to link the rand to USD few decades ago and aligned with the rest of advanced economies by choosing the IFRS (International Financial Reporting Standards) as local GAAP for reporting purposes.

As you know, when a country decides to link its currency to another one, whatever the way this is done, it deliberately decides to sacrify a portion of it`s monetary power… So, when a strong USD dollar is rarefied in such as economy, it`s value has to be adjusted for competition purposes on Foreign markets. I believe, struggling to maintain a strong rand is difficult from now. The south African Financial market is maybe more sophisticated for it`s real economy, even though the GDP overcomes 300 billion USD. In such as situations, be competitive is more important than having a strong domestic currency compared to others.

The second paradox is that inside South Africa, you have at least one administrative area which rejected to adopt the domestic currency. They have their own currency and ZAR is not accepted in such us cities. So, instead of facilitating the free circulation of the national currency, they store it in a kind of reserves and impact indirectly it`s value on the informal market. The inflation should be also studied (for your information, in march 2016, PPI was 7.1 and CPI 6.3, refer to www.resbank.co.za for more details )…

In Kuwait which also adopted IFRS as local GAAP, we are in another world. In fact, that country has the most of its foreign commerce with India and other couple of countries and decided deliberately to limit the impact of USD through the oil market on its domestic currency. That`s why most of other currencies are converted to this dinar through the crossed currencies mechanism by using USD or the Indian rupee as referee. (for instance, you need at least 1900 XAF or CFA to buy only 1 Kuwaiti dinar)….

Hope this will help to clarify the issue raised last time when we presented the new Zimbabwean monetary policy.

Let`s go back now in 1971, the year related to the abandon of the Gold Exchange Standard. Everybody knows that the change happened in the oil market was behind a systemic crisis which collapsed the financial system… So, you maybe ask yourself, which events triggered the first oil shock and why the oil market is so atypical? We`ll talk about this next time.

[i] For your information, Gold Exchange Standard was the international monetary system which governs the world since Bretton Woods Agreements, just 1 year before the end of World War II (1944) to 1971. Based on that system, all domestic currencies values were convertible to USD based on a respective fixed rate. So, during that period, we never knew a high or a lower dollar outside USA since 35 dollars were fixed to 1 gold ounce, I believe it was safe since gold reserves underground would certainly reach their peak after the peak oil ).

[ii] For more information about this, you can visit the official IMF website (www.imf.org)

Oil industry legal and Taxes systems overview

Based on our current geological knowledge , the petroleum comes from organic substances decomposition accumulated in oceans during Silurian ( 450 years ago during the so-called geochronogical prime era, Jurassic and Cretaceous (respectively, 150 millions years and 100 millions ago during the secondary era). I will not go to details related to oil origins here, for more information, please refer to www.wikipedia.org

So, the petroleum and it`s derivate NGL (natural gasoline) is not a human product, but, something we look for in the Earth`s deepness's.

Since the Colonel Edwin Drake in 1859, personal businesses and big enterprises like John Rockefeller holding (the so-called California Standard National Oil which became Chevron since 1984) developed high level and complex technologies to always be able to seek oil so far in seas...

Today, we have at least 7 big private companies generally called majors which are fully involved in the worldwide oil/gas exploration, development, production and abandonment (or decommissioning), trading, mid stream and downstream activities (Exxon Mobil, Royal Dutch Shell, British Petroleum or BP, Chevron, Total and ENI). You have also a couple of national oil companies which succeeded their nationalization processes such as Aramco (Saudi Arabia), China National Petroleum Corporation (with more than 1 million employees), PETRONAS (Malaysia), Petrobas (Brazil), Sonatrac (Algeria), ... (that success is always relative because it depends on the corruption rate inside the country and oil/gas prices volatility)...

However, what different legal and taxes implications do we have around the world for that major or other private businesses? I mean, which kind of agreements are often signed off between different private operators and host governments to be authorized to operate in that different countries?

I believe, the best background about this question could be found in Daniel Johnston literature (available online). We`ll only focuse on Upstream here. To summarize, we have three different legal agreement in Upstream around the world:

a) Concession: in a concession, the operator and it`s partners are the owners of the mineral working interest. They have just to pay the different taxes and specifically the Income Tax to the host authorities. We have this kind of Upstream agreements mainly in USA, Canada... We have also some concessions in Africa (Block 0 in Angola, Emeraude in Republic of Congo, etc.). So, the concessioner assumes all risks in this kind of agreement.

b) Production Sharing Agreement or PSA: in a Production Sharing Agreement (or Production Sharing Contract), the operator and it`s partners finance all costs related to exploration, development, Production and abandonment and they have to recover in kind those costs (the so called cost oil). Then, In the practice, a certain quantity limited by a cost stop is recovered and indexed to a macroeconomic data. The difference between the net production (and the royalties which apply in a couple of countries) is the profit oil and is shared between the host government and the partners pool. Petroleum Income Tax or PIT rate as defined in each agreement is applied on the partners pool profit oil and paid in cash or in kind to the host taxes authorities (in some PSAs, that PIT (with royalties and other related taxes if apply) is automatically taken in kind to what we call the tax point (that is the case for all PSA`s in Republic of Congo except the Lianzi agreement for which PIT is paid in cash).

In the reality, there are many issues with PSA`s since the cost recovery is often linked to a couple of oversees macroeconomic indexes which are totally disconnected to the economy of Host countries. For example, some costs will not be certainly recovered in a couple of oilfields because they are indexed to the quarterly US GDP inflation rate, a low value compared to the costs involved in that sophisticated industry.

In a PSA, all risks are shared between host governments and contractors 'pools.

We have also some societal terms in a couple of PSA`s which are expressly included to support local SME`s (we can quote the PID or Diversified Investment Provision in Republic of Congo, you can find the related documentation online).

Let`s finish this paragraph with the ARO concept (Asset Retirement Obligation). Expenses related to ARO comply with FAS143 (this reference apply for the operators which use US GAAP for Reporting purposes around the world). In fact, any Rig operation violates the environment since, our nature was not created with oil/gas industry assets. So, each operator has to recognize a provision for future abandonment by creating a specific asset called ARO asset (that asset is created in accounting by debiting an asset account against an ARO liability account). Each year and till the end of life of the exploitation, an accretion (which doesn`t generate any cash flow) is recognized as an expense against the ARO liability. (In the reality, some partner`s transform that provision to a financial option and invest it on financial markets with high volatility. For example, it`s specified in the article 4.9 of Haute-Mer C PSA (available online) that the calculation related the financial products generated by the abandonment provision are indexed to the LIBOR rate published in the so-called TELERATE. You can by yourself imagine the financial disaster which could occur in the case of a Crash in this important segment of oil and gas industry).

c) Oil service contract: in this contract, all related costs are supported by host governments and the commitment of the contractor pool is only to execute the project. their remuneration is fixed in the contract and doesn`t depends on oil market prices volatility. Obviously, all risks in this kind of contract are fully assumed by host governments. All contactors pay the related Income tax as any company in compliance with the normal accounting systems (there are some variances in the different relating countries). These contracts are common to Persian Gulf nations which already accumulated a huge amount of liquidities reserves to absorb the shock related to low oil market prices by diversifying their economy. (refer to the following publications for more details: African business Review, April-May edition, pp.88-90; Le Monde, Le Bilan du Monde, 2015 edition).

Finally, now you know the legal and taxes constraints behind the worldwide oil and gas market. Really, oil/gas market is very atypical since it underwent the effects of any environmental or geopolitical event. In August 2014, oil market prices start their decrease on US and European markets (respectively the so-called WTI and Brent) due to the abundant production of non-conventional oil/gas mainly from USA and Canada (with oil/gas sands industry). Now, a great portion of that industry in Alberta around Fort-Murray stopped production since a couple of days due to forest fires.... And, quasi automatically, oil market which were sensibly increasing that last days decreased..... In that confusion, it certainly interesting to ask yourself why that fires and other pipelines fires are common to certain regions around the world but are rare in others (the Persian gulf for example)....Is that climate change negative effects? Let`s talk about this later.

Why Zimbabwe adopted theYuan as national currency and Forgave the USD

I read in Jeune Afrique economique (February edition) that Zimbabwe authorities forgave the USD dollar and adopted the chinese Yuan as national currency.
This should be the proof that the worldwide currency market is not fair. In fact, on that market any currency is like an item to be bought or sold. So, if your currency is boosted by the exports of your country, your public treasury will receive a lot of non-national currencies. So, the more non national currencies you will have in your central bank, your currency will be more stronger compared to others... I tried to simplify, but, in the reality, it`s complex because you have to add gold stock,... Since my purpose is to help anybody to understand some complex economic concepts, I will not go throuh details here...

However, as you know, Zimbabwean economy is mainly based on traditional exportation's, And the prices of it`s products sold are not between it`s reach... Maybe, Zimbabwean authorities choose the yuan because now they mainly depend on chinese exports... that decision is very technical and strategic....
Now, I believe you can understand why the nigerian naira value is low on the worldwide currency market...

Hope this will help to understand that behind some strategic and important decisions, there are some technical fundamentals to be considered.

By the way, in my next posting, I will detail why the south african rand is going down since a couple of quarters and why the Kuwaiti dinar (in Persian Gulf) is the strongest non national currency around the world.

Thank you
Le Tirshata

Is there a probabilistic law behind the economic cycles theory?

1929, 1987, 1997 and 2008... What comes to mind when you remember that key years? For sure, you remember the big financial crash, the second financial crisis from USA, the Asiatic financial markets crash and the last financial crisis symbolized by Lemon Brothers bankruptcy (every body knows that the real root cause related to that crisis is the sub-primes crisis which had been triggered by the US real estate market in 2007)....
I read some papers and learned that some eminent economists have foretold the coming financial crisis (I`m talking about the financial crisis not the economic crisis, both concepts are different) for this year... Did you notice why? Did you see any logic behind the above progression? If you have eagle eyes, you certainly noticed that the three last financial crises dates follow approximately an arithmetical progression. In fact, we had that last 29 years a stock market crash at least every 8 years, I mean 1987, 1997 and 2008. So, since 2008+8= 2016, I do believe that specialists based their prediction on that analysis. However, if this is accurate, why we did not have any stock market crash between 1933 and 1987? (1971-1973 don`t deal with any financial crisis, but, with the first oil shock)...
So, I will appreciate if anybody could help to demonstrate the fundamentals behind the economic cycle theory
NB: For your information, the solution should be mathematically logic and similar to the cycloid issue raised by B. Pascal few centuries ago. If not, a significant change in the nature of the real worldwide economy that last decades should be studied. .

Thank you
Le Tirshata