Government fixes property transfer fee at CFA35000
Monday, 10 December 2018 11:35 
(Togo First) - In Togo, property transfer fee is now fixed at CFA35000 in line with a ministerial decree dated November 20, 2018.
“A flat fee of CFA35000 will be paid for registration, stamp fees and land conservation fees in the event of complete transfers (of property),” said a note released by the ministry of economy and finances.
Previously, the fixed fee were proportional to the property’s value. Truly, under the 2018 finance bill, in which various incentives were introduced, it represented 6.3% of the property’s value whereas in 2017, it was set at 9.3%.
Setting a fixed tariff aims at simplifying procedures by merging fees requested for file submission, liquidation and registration into a single fee, Togo First was told by Sandra Johnson, Head of Togo’s Business Climate Cell and Counselor to the President. She indicates that the initiative perfectly aligns with the government’s efforts to boost land access in Togo.
Johnson then urged notaries to also update their rates in accordance to the new tax and procedural relief measure.
Let’s recall that since last year, Togo started implementing a battery of reforms aimed at improving its business climate. The reforms have actually helped authorities dematerialize almost all available land titles at the end of 2017, and created this year a single desk for property transfer (hence shortening associated delays).
Spurred by the various incentives, Togo gained 19 places in the latest Doing Business index. Under the latter, the property transfer indicator soared 55 places, driving the nation’s overall rise.
Fiacre E. Kakpo
