Togo : OTR to boost tax collection in mining sector

Economic governance
Thursday, 14 June 2018 13:29
Togo : OTR to boost tax collection in mining sector

(Togo First) - Togo’s Revenue Office (OTR) wishes to improve taxes it collects from the mining sector. In that order, it is studying with State officials and executives from the private extractive industries, a possibility to amend mining tax regime, at Notsé, in the Plateaux region.

It was established that fluctuations in prices of mining products paired with non-reliability of data provided by mining industries impede tax collection in the sector.

The Mining Development and Governance Project (PDGM) aims to boost accountability and transparency in the sector’s management. It also leverages on mining data to amend tax regime imposed on private companies operating in the mining sector.

The amendment should align with a model established by IMF which lets States compare tax regimes looking at tax base and tax rate, for information sharing between government and investors.

Séna Akoda

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