Covid-19: sectors hardly hit by the pandemic will benefit from new tax breaks

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Thursday, 06 August 2020 17:57
Covid-19: sectors hardly hit by the pandemic will benefit from new tax breaks

(Togo First) - Sectors that are most clobbered by Covid-19 will benefit from tax breaks. Adopted on July 30, these tax breaks are part of amendments to the 2020 finance law.

In effect, transport, hotels, restaurants, and all other accredited entities that operate in the tourism industry will benefit from a 25% reduction on the advance payment for a patent. Another measure concerns one-man businesses that pay the single business tax: that includes haulers, craftsmen, and others. They will benefit from a 50% reduction in the second installment of this tax.

It should be highlighted that the amended law was enacted by President Faure Gnassingbé per the rule enabling him to legislate by ordinance during a state of emergency.

Séna Akoda

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