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  • Togo : Government implements tax to boost cashew export revenues

    Nov 16th, 2018

    Togo : Government implements tax to boost cashew export revenues (Togo First) - After Benin, Burkina Faso and Côte d’Ivoire, Togo has also adopted a tax on cashew exports, baptized Cashew Nuts Tax (PNC).

    The tax which was established in line with a decree issued on October 3, 2018, amounts to CFA40 per kg of raw nuts and CFA5 for processed nuts.

    The fee, perceived by the tax administration, will be transferred to a special account, opened at the Public Treasury, named “management fund for Togo’s cashew sector”.

    By collecting this tax, the government wants to boost tax earnings which it plans to use to support the sector’s growth. In this framework, the administration will back direct actors and local processing which is more profitable.

    Let’s recall that Togo produced 12,000 tons of cashew nuts in 2017, according to the n’kalô report. The nation’s output is expected to rise to 15,000 tons.

     



    Source: https://www.togofirst.com