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The Togolese National Lottery (LONATO) contributed CFA6.04 billion to the national budget in 2022. This was recently disclosed by the country’s tax office, OTR.
The figure, generated via corporate income tax, contrasts with CFA5.5 billion and CFA4.6 billion in 2021 and 2020, respectively (thus marking a 9% and 30% increase).
According to the OTR, the LONATO's contribution at the end of...
In Togo, the recently-adopted 2024 finance bill incorporates a major tax reform on the taxation of mobile money transfers.
In line with the reform, these transactions will be subject to only one tax from now on–the Tax on Financial Transactions (Taxe sur les activités financières or TAF).
Before the reform, mobile money transactions were also subjected to the Value Added Tax (VAT)....
Togo will kickstart the first phase of its regional university construction program next year. In this phase, the country will start building a university in Datcha, Plateaux region, and continue delocalizing the University of Kara. The news was announced last week, December 22, by Sani Yaya, Minister of Economy and Finances.
“The first phase of the project to build new universities in each...
The Togolese parliament adopted the 2024 finance bill last week, on December 22. The budget stands at CFA2,179 billion–expenditures and revenues–making it the first time the figure ever exceeds CFA2 billion.
The new budget is up 10.3% compared to the 2023 rectifying budget which stood at CFA1,975 billion.
Next year, 48% of the budget will be devoted to promoting inclusion, against...
New water and sanitation facilities were inaugurated last week in Togo’s Savanes region. Provided by Japan and UNICEF, the facilities were inaugurated on December 21.
They include 61 mixed (solar and hand-powered) water pumps and 38 toilets for schools and rural communities. According to UNICEF, they should improve the lives of the people of the region which currently faces terrorist...
Chinese and Korean companies active in Togo’s free-trade area weighed about CFA64 billion at the end of 2022. The evaluation was made by the Investment Promotion Agency and Free Zone (API-ZF) and relayed by the Minister of Investment Promotion, Manuella Santos, on December 21, 2022, in Lomé. Alongside the figure, Santos reported that the Asian firms created over 3,000 local jobs. She spoke...
The Togolese government is considering taxing boreholes, in a bid to better manage water resources nationwide. The project was discussed on December 20 at the Council of Ministers. On the occasion, the Minister of Water made a presentation on the Integrated Water Resources Management Fund (Fonds de Gestion Intégrée des Ressources en Eau - Fonds-GIRE).
"The Head of State has instructed the...
Ecobank Togo is the best Treasury Securities Specialist (TSS) on Togolese public securities for the year 2022. UMOA-Titres, the agency that oversees the WAEMU’s stock market, gave the bank the title which it also held in 2018 and 2021.
TSSs are financial institutions authorized to directly interact with the French Treasury to buy and sell government securities, especially bonds or...
Turkey will open a research center at the University of Lomé (UL), Togo. Muteber Kiliç, the Turkish ambassador to Togo, announced the news on December 19, 2023.
The center will help Togolese students know more about Turkey and secure Turkish scholarships. It will also be a place where teaching researchers from both countries collaborate and share their experiences.
Ahead of the opening,...
The Togolese Minister of Investment Promotion, Manuella Santos, met a group of Indian businesspeople active in the country last Tuesday, December 19. During the meeting, an Investors' Breakfast held in Lomé, the Indians highlighted the issues they face in their activities to the official.
The businessmen complained mainly about the slow process of their applications at the Land Registry,...
The Ministry of Trade of Togo will soon carry out control missions to check for expired and fake goods that are sold across the country. Ahead of the operations, Rose Mivedor just reminded businesses that selling these products is prohibited.
“The Minister of Commerce brings to the attention of economic operators and consumers that the sale of counterfeit, falsified, and expired products...
A new project to support Togo’s rice sector was launched on Monday, Dec 18, in Lomé. The initiative, OCOP-TOGO, is backed by the United Nations Food and Agriculture Organization (FAO).
"This project supports the government’s actions to bolster the rice sector. The Togolese State’s goal with this initiative is to ensure food and nutritional security for the Togolese people leveraging...
Starting next month, Togolese residents will be able to pay the Motor Vehicle Tax (TVM) and secure their Tax I.D Number (NIF) online. This was announced by Philippe Tchodié, general commissioner of the Togolese Tax Office (OTR), on December 18.
The reform will ease tax payments while reducing costs and delays, according to the OTR. "Now, anyone with a cell phone can get their NIF and this is a...
In Togo, the mesofinance company COFINA and car seller CFAO MOTORS have a car loan offer targeting individuals and entrepreneurs. The partnership for the “Preferential Rate Loan Offer” was sealed last Friday, December 15.
The solution is the first of a kind for COFINA Togo, the company said.
The partnership aims to help more Togolese entrepreneurs buy a car, by “providing adapted...
Togo is updating its legal framework for environmental protection. A new bill was adopted to this end on 18 December 2023, at the Council of Ministers.
"The bill adopted enshrines a revision of the 2008 law, to provide the country with an updated legal framework in light of evolving standards, to better meet the challenges of the 2025 government roadmap for sustainable development and...
Togo is updating its legal framework for environmental protection. A new bill was adopted to this end on 18 December 2023, at the Council of Ministers.
"The bill adopted enshrines a revision of the 2008 law, to provide the country with an updated legal framework in light of evolving standards, to better meet the challenges of the 2025 government roadmap for sustainable development and...