What are the innovations and new tax acts contained in the 2021 Finance Act? This question was answered by the Togolese Revenue Office (OTR) during a meeting with the press this Wednesday, January 06, 2021 in Lomé.

In order to strengthen the partnership with economic operators regarding the innovations introduced by the 2021 Finance Act, the OTR decided to inform the public through the media about the new tax documents in force.

With regard to the changes made, the finance law in terms of reducing the tax burden, registration and registration fees have been revised downwards (from 1.5% to 5%).

“A reduction that the law also provides for granting to the registration of furniture. In addition, the relief also includes exemption from taxation and the cancellation of mortgages,” indicate the heads of this financial authority.

Also, notes the OTR, the TPU floor for young entrepreneurs is reduced to 20,000 CFA francs instead of 300,000 CFA francs.

As for tax acts, the reforms concern the issuance of tax acts, the renewal of tax receipts and tax regulations, which bear security mentions. Innovations that tend to improve the business climate, according to officials at the Togolese Revenue Office.