Togo’s Chamber of Commerce and Industry (CCI-T) is rolling out new tax reforms for SMEs operating in the nation. The Chamber commenced a series of meetings related to this initiative on February 10. These meetings are taking place nationwide, including in the capital city.
By the conclusion of the program, the businesses involved should gain a clearer understanding of tax matters, thereby fostering a more competitive business environment.
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On Monday, President of the Chamber of Commerce, José Kwassi Simenouh, stated that this initiative will assist in preventing managerial mistakes. He commented on the importance of tax knowledge for the long-term prosperity of developing SMEs. “It’s crucial for business leaders to comprehend what taxes entail. (…) Our expectation is a proactive approach to avert errors that could result in tax audits,” Simenouh remarked.
Pidassa Awali, Managing Director of FISCCA-RH, a training organization, highlighted that the new law is intended to empower the private sector by improving access to vital information. “The Finance Act is not merely a regulatory framework; it is crafted to assist and enhance the capabilities of the private sector,” he noted.
This initiative specifically targets emerging companies, equipping them with resources to navigate a complicated tax landscape. The workshops will conclude on February 13.
