Togo expects over XOF770 billion of tax revenues by 2022

Public finance
Monday, 30 September 2019 17:15
Togo expects over XOF770 billion of tax revenues by 2022

(Togo First) - Togolese authorities hope to collect up to XOF773.5 billion of tax revenues by 2022. 

In detail, the country aims to "reach XOF678.4 billion, 723.3 billion and 773.5 billion in 2020, 2021, and 2022 respectively." The average growth over the period should thus be 6.8%. To achieve these numbers, the government plans to implement various tax reform programs. 

The increase in tax revenues of the country, which has recently scaled up its budget, should lean on domestic taxes. Indeed, under the forecasts which were made by the ministry of finance, these taxes (domestic) should amount to XOF356.2 billion in 2020, and respectively 380.8 billion and 408.1 billion in 2021 and 2022. Meanwhile, custom duties are expected to stand at 322.2 billion, 342.5 billion, and 365.4 billion in the same years. 

According to forecasts, tax and customs revenues should respectively record an average increase of 7% and 6.5% between 2020 and 2022 (incidentally the year in which the PND will be completed).

Let's note that the Togolese revenue office aims to collect this year XOF669 billion of tax and customs revenues and has already mobilized 48.8% of this amount in the first half of 2019. 

Ayi Renaud Dossavi

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