By:Isatou Jallow
Madam Lucy Fye-Jagne, Board Chairperson of the Gambia Revenue Authority (GRA) has emphasised that paying taxes is not easy but as a tax-based economy, taxes are the quintessence of our economy.
“They fund public projects such as roads, schools, hospitals, and the entire governance infrastructure,” she told taxpayers and officials of GRA at the 4th edition of authority award ceremony at Kairaba Beach Hotel on Saturday.
She urged that that pertinent for everybody to contribute their fair share of the tax burden, saying that GRA is committed to supporting the private sector by amplifying tax processes and procedures, providing tax holidays by means of SICs to SMEs and creating a conducive environment for the private sector to take its rightful place in the economy.
Madam Fye-Jagne stated on 20th January 2022, GRA became one of the few public institutions in the country to submit its financial statement and activity report to the finance and public accounts committee (FPAC) of the National Assembly as required by statute.
“This accomplishment came with the imposition of stiff deadlines, leave deferrals and constant probing for updates. To improve corporate governance within GRA, the Board initiated and approved the promulgation of a Board Manual in 2019 to embody their rules and regulations by which the Board governs itself and defining its relationship with Management.
“The Board was also central in initiating GRA first Gender and Diversity Policy and in the drafting of the Corporate Strategic Plan 2020- 2024.
“These reforms, among many, are the reasons behind the excellent revenue performance registered over the years. Today I am proud to say that from 2017-2021, GRA exceeded the annual revenue target set by the Ministry of Finance and Economic Affairs by more than a billion dalasi each year,” Madam Fye-Jagne pointed out.
She added that the Board of the Gambia Revenue Authority, created by section 5 of the GRA Act 2004, is designed to provide supervisory functions over management and also provide strategic guidance and policy direction for the organization.
She commended the awardees and urged those that miss out to double their efforts for next year, noting the recognition serves as a motivation for those outside of the tax net to voluntarily comply with their tax obligation.
For his part, Minister of Finance and Economic Affair (MOFEA) Hon. Mambury Njie has stated that the government of the Gambia under the leadership of the President of the Republic H.E.Adama Barrow is committed to introducing the policies to expand the tax bases and create the enabling environment for all businesses in The Gambia.
He described the relationship between his office and the GRA under Commissioner General Mr. Yankunba Darboe as very fruitful, adding that the authority taxpayers annual ceremony is an opportunity to come together to honour the taxpayers among us.
He stated that indeed it is a common knowledge that taxes are the lifeblood of the government machinery and it is true for all the economics in the world and the Gambia is no exception.
He disclosed that 2021 domestic tax revenue was 12.4 percent of GDP the average ratio of our GDP over the past five years 12.9 percent when compared to the regional average of 13 percent this is indeed a significant contribution to the GDP especially in the nature of the national economy and the Gambia limited natural resources by the way.
He further stated that in the national development plan government strategy is to expand tax paid on premises of creating the enabling environment for not all the business but as means of promoting edible growth.
He also said in a complementary move the Ministry of Finance and Economics Affairs in partnership with the Ministry of Trade Regional and Integration are currently beginning the dipper outdated and creating incentives to attract foreign direct investment.
