Togo: Tax Office collected CFA729 billion in tax revenues in January-September 2023

Public finance

Friday, 17 November 2023 17:01

Togo: Tax Office collected CFA729 billion in tax revenues in January-September 2023

(Togo First) - Togolese authorities collected CFA729 billion in taxes and duties in the first three quarters of 2023. The country’s general directorate for budgeting and finance revealed the figure in a report "Rapport d'exécution du budget de l'Etat exercice 2023 situation à fin septembre".

While the amount is about 20% less than the authorities had expected to collect over the period–CFA912 billion–it exceeds last year’s performance by nearly 13%. Indeed, the country had mobilized CFA647 billion in January-September 2022.

The tax authorities attribute the increase to a rise in VAT-taxable sales (8.2%) and imports by value (12.8%).

Other factors that contributed to the increase include the spatial reorganization of tax services, with the creation of tax operations offices in each commune of Greater Lomé and in each prefecture in the interior of the country, as well as the use of data from the tax census carried out throughout the country in 2022. There is also the reinforcement of tariff specification codes for better control of the customs value of goods.

In detail, the tax revenues collected in the past three quarters are broken down into liquid revenues, valued at CFA590 billion, and non-liquid revenues, valued at CFA139 billion.

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REFORMS OVERVIEW

STARTING A BUSINESS (more info)

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….

ENFORCING CONTRACTS (more info)

Compared to some years ago when it was one of the lowest rankers under the Doing Business’ Enforcing Contracts indicator, Togo, leveraging many efforts to improve its business climate, was able to jump significantly on the index in the recent years... .

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 .

TRADING ACROSS BORDERS (more info)

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

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.

CONSTRUCTION PERMIT (more info)

After moving from the 133rd to 127th place under the 2020 Doing Business’ construction permit index, Togo intends to reiterate this feat in the coming edition of the global ranking. To this end, it has introduced this year multiple reforms.

GETTING ELECTRICITY (more info)

Over the past two years, Togo’s ranking under the Doing Business’ Getting electricity and water indicator has increased consistently. Owing this performance to multiple reforms aimed at making it easier for businesses to access power and water, Lomé plans to introduce even more reforms this year to keep up its improvements.

REGISTERING A PROPERTY (more info)

Out of all the 'Doing Business’ indicators, Property Registration is where Togo has improved the most since 2018. Indeed, after spending years in the lowest part of this ranking, the country now seeks to beat Rwanda which is the best performer on this index in Africa. To do so, Lomé has been introducing many reforms, with the latest batch implemented this year.

PUBLIC PROCUREMENT (more info)

From professionalization to digitization, through legislative regulations, Togo’s public procurement framework is constantly being modernized. Several reforms have been implemented to improve the sector much to the benefit of the private sector, which is the focus of the National Development Plan.

PAYING TAXES AND DUTIES (more info)

To improve its business environment, Togo introduced some important reforms related to the payment of tax and duties. From the replacement of some taxes to the cancellation of others through exemptions, the country has only one objective: offer the most attractive tax framework to investors and economic operators. To achieve this, the authorities relied on digitization.