Togo : A single 18% tax rate to replace VAT

Economic governance
Thursday, 17 January 2019 17:13
Togo : A single 18% tax rate to replace VAT

(Togo First) - In Togo, companies that pay value added tax (VAT) must from now on pay a single 18% tax rate. This was disclosed by Ahmed Esso-Wavana Adoyi, Tax commissioner at the Tax Revenue Office (OTR).

The new measure was set under the new tax regime, in effect since Jan 1.

“We have been scolded by the WAEMU. Now, it is either the 18% or nothing,” claimed the commissioner.

As for VAT loans, an escrow account will be created to ensure their rapid reimbursement.

At the end of 2018, the OTR decreased VAT on basic commodities from 18% to 10%. Actually, the tax was suppressed for non-processed milk, rice (excluding first-class rice), mobile terminals and IT equipment, leasing transactions in transport and clean power production equipment.

Fiacre E. Kakpo

togofirst mobile

Should we encourage young togolese toward agriculture?
  • 57 Votes
  • 25 Votes
  • 20 Votes
    Don't have opinion
← Back
Total 102 Votes

To contact us: c o n t a c t [@] t o g o f i r s t . c o m

Please publish modules in offcanvas position.