Togo: Importing agricultural equipment is tax-free, under the 2022 finance law

Agriculture

Thursday, 20 January 2022 18:02

Togo: Importing agricultural equipment is tax-free, under the 2022 finance law

(Togo First) - Under the 2022 Finance Law, the import of agricultural equipment in Togo is exempt from duties and taxes. “From January 1 to December 31, 2022, the import of agricultural equipment is exempt from duties and taxes, with the exception of community levies," reads the bill forecasting revenue and expenditure for the year.

Introduced in 2020, as the pandemic broke out, the measure has been renewed this year, to support agricultural policies in place. It (the measure) was part of Togo’s "Covid-19 Agricultural Response Plan," which included several emergency measures, aimed at consolidating food and nutritional security, improving the income of farmers, and coping with pressures induced by health restrictions.

It should be noted that the import relief also concerns medical equipment and products used exclusively to tackle Covid-19, according to the government.

Ayi Renaud Dossavi

REFORMS OVERVIEW

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At the fifteenth position, worldwide, and first in Africa, under the Starting a Business index of the 2020 Doing Business ranking, Togo sustains its reformative dynamics with more reforms….

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CONTRACT EXECUTION (more info)

Creation of special chambers of commerce for small debts • Creation of chambers of commerce at the Court of Appeal • Civil and commercial cases now handled by distinct clerks • Establishment of commercial courts in Lomé and Kara • Lawyers and bailiffs now have access to the FORSETI COMMERCIAL platform • A maximum period of 100 days was fixed to settle a commercial dispute .

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In comparison to previous years, Togo has significantly improved its ranking on the “Trading across borders” index by adopting multiple reforms that focus mainly on the digitalization and reduction in delays, for import and export procedures related to import and export.

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