Tax Revenue Authority to train its staff to improve the collection of mining taxes

Mining

Tuesday, 13 October 2020 15:29

Tax Revenue Authority to train its staff to improve the collection of mining taxes

(Togo First) - To maximize tax revenues generated by mining in Togo, the Togolese Revenue Authority (OTR) intends to level up the skills of its agents in terms of control of mining output and assessment of mining-related losses.

This, according to the OTR, should reinforce its staff’s capacities in terms of tax control in mining industries.

The decision aligns with the country’s new mining strategy set in a bill that was passed recently at a ministers’ council and should amend the existing mining code. One of the key changes featured in the code is the revision of fixed mining rights and royalties to enable Togo to better tap into the sector’s economic potential.

Data available shows that in 2017, mining generated around CFA15 billion (in taxes and royalties) for the state and CFA932 million in social payments.

Regarding permits granted to companies, the latest data (at the end of April 2020) released by the ministry of mining and energy indicates that 73 mining licenses have been granted to 67 companies so far.

Séna Akoda

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