Togo Expands Property Tax to Include Secondary Homes

Public finance

Wednesday, 24 April 2024 11:29

Togo Expands Property Tax to Include Secondary Homes

(Togo First) - Togolese owners of secondary residences will now be required to pay property tax, the revenue office, OTR, recently reminded in a note seen by TogoFirst. This change, effective since January 1st, 2024, aims to strengthen tax collection and improve the management of financial resources for Togo's development.

Previously, secondary homes – those not considered a person's primary residence – were exempt from the Property Tax on Built Properties (TFPB). However, under the new regulations, "the exemption from the TFPB now only applies to a single primary residence throughout Togolese territory," clarified the OTR.

This means all secondary properties, regardless of rental status or occupant relation to the owner, will be subject to the TFPB. The tax itself is calculated at 15% of the net cadastral income, which is the annual rental value minus 50%. It applies to built properties like houses, buildings, and offices.

Esaïe Edoh

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