Togo - Finance Law 2024 Tax Code Amendments Effective 1 January 2024
The Togolese parliament adopted the 2024 Finance Law on 22
December 2023. This legislation makes an amendment to Article 74 of the General
Tax Code, impacting payroll in Togo for the 2024 tax year.
The key change is:- Article 74 only repeals the minimum collection
of 3 0000 CFA francs applicable for taxpayers with an annual income
below 900 000 CFA francs.
It’s important to note that the sections of
Article 74 that remain are unchanged:- The annual progressive tax rates will continue without changes.
- In the calculation of tax, the net taxable
income is rounded to the nearest 1 000 CFA francs subject to the
progressive tax rates remains unaffected.
- The resulting tax calculated after applying the
progressive rates, continues to be rounded down to the nearest 10 CFA
francs and no amendments to the rounding method.
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