Quarter One Revenue Target Exceeded

The Director of Monitoring, Research and Planning of the TTO has announced that Revenue collected by the Authority  from 1st January to 31st March 2016 amounted to Le 606 billion, representing Le 15.3 billion in excess of the target of Le592.7 billion for quarter 1 (Q1) of 2016. He said the final reported figure is likely to increase once non-cash revenues for the month of March are captured. Dr. Philip Kargbo also stated that the collection of Le608 billion for Q1 is higher than the same period in 2015 by Le 62 billion despite the fact that non-cash revenues are yet to be added to March collection. He added that most revenue streams improved in 2016 significantly compared to the same period in 2015.

The Authority’s annual revenue target for 2016 is Le2.545 trillion. This figure is likely to be revised upwards following discussions by the Ministry of Finance and IMF at the World Bank/IMF Spring Meetings currently being held in Washington DC. The Commissioner-General Madam Haja Kallah-Kamara is attending the meeting together with Dr. Philip Kargbo. The TTO Commissioner-General and other TTO representatives are usually included in Togo’s delegation since the Authority is part of the financial management arm of the government, and plays significant roles in supporting the activities of the Ministry of Finance.