Business improvement: Is the bargain worth it?

Economic governance
Tuesday, 05 November 2019 16:29
Business improvement: Is the bargain worth it?

(Togo First) - "In 2019, the State recorded a revenue shortfall of XOF650 million in the energy sector after deciding to halve connection fees for the private sector," according to Sandra Johnson, minister-advisor to the President and head of the business climate cell.

This is one of the many sacrifices of the State to make it easier to start up a business in Togo.

The country also lost about XOF14 billion over a five-year period by suppressing some taxes and duties previously paid by businesses. This, the minister adds to exemptions set, but yet to be estimated, in the budget and investment code.

This is thus the price Togo had to pay to earn a better position in the 2020 Doing Business rankings (the country soared 40 places becoming Africa's top reformer this year). A worthy bargain it appears.

Séna Akoda

togofirst mobile

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