In Togo, the economic momentum is further observed with a significant increase in tax revenues mobilized and allocated to the state budget during the first half of 2023.
According to the latest report published by the Ministry of Economy and Finance, revenues reached 368.32 billion FCFA, marking a 5.8% increase compared to the same period in 2022. This growth, representing an achievement rate of 48.1% of the annual forecasts set at 912 billion FCFA, highlights a positive evolution in the country’s fiscal sector. As the Togolese economy strengthens, the tax administration is committed to ongoing modernization efforts aimed at enhancing the collection of taxes and duties.
At the heart of this performance, the Tax Department distinguished itself by generating 200 billion FCFA, representing a 2% increase compared to the previous year. This contribution underscores the effectiveness of efforts made to encourage better tax compliance and support national economic development.
The Customs Directorate also played an essential role by recording a remarkable growth of 10.4%, with revenues rising from 152.25 billion FCFA to 168.13 billion FCFA. This significant increase demonstrates the positive impact of initiatives aimed at improving border surveillance and management while encouraging cross-border trade.
The increase in tax revenues also reflects better collaboration between the Togolese government and taxpayers, as well as a greater awareness of the importance of paying taxes for the country’s development.
