Togo: ATAF's competent authorities are meeting in Lomé to improve exchange of information on tax matters

Economic governance

Friday, 05 October 2018 15:23

Togo: ATAF's competent authorities are meeting in Lomé to improve exchange of information on tax matters

(Togo First) - Competent authorities of the African Tax Administration Forum (ATAF) are holding their second consultative meetings in Lomé, Togo’s capital. The meetings started October 4, 2018.

Placed under the theme “the importance of Competent authorities in the exchange of information in a globalized world “, this meeting should show African authorities and fiscal actors, the advantages of information exchange in nations’ resources mobilization.

Kossi Toffio, representing Togo’s minister of economy and finance, informs that, “the exchange of information helps conciliate two interests usually wrongly deemed contradictory: ensure sufficient resources to states for their operational needs versus taxpayers’ will to maximize their profits”.

According to the official, the meeting's topic is relevant because “no fiscal system could function if it does not use the exchange of information on tax matters as a precious tool to improve global transparency and cooperation”.

Seeing African countries’ inclination to more exchanges with the rest of the world than with their counterparts, Kodzo Adedze, general commissioner of Togo’s revenues bureau (Office Togolais des Recettes-OTR) expresses his conviction in the participants’ capacity in taking into account “African administrations’ will to appoint competent authorities in charge of the management of this sensitive sector that exchange of information is”.

Séna Akoda

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….

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 .

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CONSTRUCTION PERMIT (more info)

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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)

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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.