Togo collected more tax revenues in 2020 than in 2019, despite the Covid-19 pandemic

Economic governance
Tuesday, 23 February 2021 16:13
Togo collected more tax revenues in 2020 than in 2019, despite the Covid-19 pandemic

(Togo First) - Despite the pandemic, Togo generated more tax income last year than it did in 2019. 

Though Lomé scaled down its forecast for 2020, due to Covid-19 and its pressure on the economy, the Togolese Revenue Office (OTR) -in charge of collecting taxes- garnered CFA652 billion last year. This is 4.5% more than the amount collected the year before (CFA624 billion). 

We’ve managed to meet and even exceed our target,” says Philippe Tchodie, head of the OTR. The official is extremely pleased with the 108% achievement rate, in a context marked by a relative decline in economic activity and the numerous initiatives carried out by the government, in support of the private sector. 

Regardless of the good tax performance recorded in 2020, this year should be one of cautious optimism. Authorities downscaled the forecast for 2021, according to sources close to the matter. 

Ayi Renaud Dossavi

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