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Togolese government continues its reforms and, in this regard, has considerably lowered the cost of online legal advertisements. While it was CFA5000, it has been recently reduced to CFA1000, thus reducing by 80%. Indeed, the government materialized a reform aiming to transfer to the business formalities center (CFE), exclusivity for legal advertisements on its website http://cfetogo.com/cfe/....
Still in line with its strategy to improve business climate, Togo’s government has announced tax incentives for companies registered at the Centre de Gestion Agréé (CGA).
Indeed, under its 2018 finance bill, article 1478, it provides tax incentives, not only to businesses registered under the single tax business regime but also to those registered under the real regime.
In effect,...
In Togo, the number of firms established by private deed, that is without resorting to an authentic deed, has almost doubled, soaring from 947 in 2015 to 1339 in 2017 (+40%).
Last year, 76% of firms that were established were LLC (limited liability companies), against 54% in 2015. A boom fostered by the reduction of minimum share capital to create an LLC, to CFA100,000.
In addition, other...
Last December 20, Togo’s parliament has approved the 2018 finance bill. The latter was amended slightly, in regards to taxes, compared to last year’s.
In fact, the government, this time, is betting on tax relief to efficiently tackle poverty, unemployment and boost consumption and investment in the country.
Lomé’s new strategy involves a battery of measures which should provide both...
Government wants to limit age of imported used cars in the country. This is the main substance of the decree adopted during a ministers council held on January 10, 2018. The limit itself is however yet to be disclosed.
Uncontrolled import of used cars, not meeting standards, and their use are causing health and environmental issues. Among others, there is noise pollution, pollution by chemicals...
In its New Year’s message, President Faure Gnassingbé has promised to award 20% of public procurements to young local entrepreneurs. “I plan to set aside up to 20% of public procurements to young entrepreneurs and women, who by the way will benefit from simplified procedures,” the president said.
This commitment aligns with the government’s will to boost socio-economic inclusion of...
Soon, the University of Lomé will have a mining information center. Its establishment will be part of a project to rehabilitate buildings and practical training rooms of the departments of chemistry and geology, at the faculty of science of Lomé.
The government will pay works for the project with a loan it secured from the International Development Association under the mining governance and...
Atcha-Dédji, managing director of state-run telecom firm Togocellulaire was recently appointed as the new head of the telecom holding TogoCom.
Also, Col. Gnama Latta, managing director of the national civil aviation agency, was named chairman of TogoCom, thus replacing Taïrou Bagbiegue.
Created on July 13, 2017 by a decree falling in the framework of the major transformation and upgrade...
Togo’s parliament has enabled the government to ratify the Seoul protocol to end illegal tobacco trade signed in November 2012.
The implementation of this regulatory framework aims to protect public health by enhancing the legal system with stricter penal sanctions and international law enforcement and judicial cooperation.
To be more specific, adopting this protocol should boost the...
In the event of a positive outcome following the dialogue between political actors of Togo, the country will receive $35 million from the US under the Millenium Challenge Account Threshold Program.
This was announced during the last quarterly meeting of the Millenium Challenge Corporation (MCC) board held on Dec 19, 2017. “Concerning Togo, the board is encouraged by the possibility of an...
The ministry of infrastructures and transports has officially launched the project for “digital payment” of road and railway fees.
Hence, subscription fees for driving license exam, car registration, registration card and other services provided by the road transport and railway office, will be paid digitally.
The related service can be accessed by calling *145#.
The project is part of a...
Togo’s government has canceled the measure requiring that one has a minimum social capital of CFA10,000 to create a limited liability company (LLC). This was decided during a ministers’ council held on December 19, 2017.
Hence, no such capital is required before creating an LLC, and the amount to be paid is actually set by venture associates. Entry capital is divided into equal social...
Presently, registration of used cars in Togo is done in a day, as against many days with tedious procedures in the past. Indeed, currently, someone that buys a used car can get his or her registration card and license plate within 24 hours only.
The news was announced by the IT unit of the Road and Railway Transport Office.
In the framework the new measures, buyers will have to complete...
International Monetary Fund (IMF) has recently approved the disbursement of $35.6 million (CFA19,761 million) to Togo, according to a statement released by the institution.
The disbursement falls under an agreement reached last May, between the Togolese government and the Bretton Woods institution, also under an extended credit facility amounting to $241.5 million (CFA134,067.22...
In Lomé, Togo, experts from the ministry of trade, private sector promotion and others from the International Trade Center are working to validate a feasibility study related to the creation of a national agency for the promotion of exports and investments.
Actually, the parties involved are looking at, not only, conclusions and recommendations made by the committee steering the project but...
To fight fraud and tax evasion, and boost tax transparency in Togo, the Global Forum on Transparency and Exchange of Information for Tax Purposes has teamed up with Togo’s Revenue Office (OTR).
Under the partnership, emphasis will be put on information-sharing between tax services and assessment of two international standards also: information-sharing on demand between tax services and...