Page 42 - Profmark Africa Overview 2024

Togo (GMT)

General:
▪ Capital City: Lomé
▪ Official Language: French
▪ Currency: West African CFA Franc (XOF)
▪ Main Exports: Re-exports, coffee, cocoa, maize, cotton, phosphates
▪ Surface Area: 56.8 sq. km (thousands)
▪ Population: 9,51 million (2024,est)
Key Economic Indicators:
▪ GDP $9.17 billion (2023) / GDP Growth Rate: 6.4% (2023)
▪ CPI Inflation Rate (annual): 8% (2022)
▪ Sovereign Credit Rating: Moody’s: B3
▪ Indicator of Economic Freedom Score: 50.9/100
Exchange Controls:
▪ Exist
Basis of Taxation: (Tax Year End: 31 December)
▪ Residents: Togo-source income
▪ Non-residents: Togo-source income
Tax Rates:
▪ Individuals: Progressive rates to 35% [from XOF 0 to 900,000 of taxable income
- taxed at 0,5%]
▪ Companies: 27%
▪ VAT: 18%
▪ Withholding Tax: Varying rates apply to residents and non-residents
▪ Capital Gains Tax (CGT): Generally taxed as ordinary income
▪ Double Taxation Agreements: In place with several countries
Useful links:
▪ Togo Revenue Authority http://www.otr.tg
▪ Central Bank of West African States http://www.bceao.int
▪ Ministry of Finance http://finances.gouv.tg

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