By Kemo Kanyi
The Gambia Revenue Authority (GRA) has collected D48, 470,427.78 between January and August 2024, compared to D6, 312,608.78 in the same period of 2023. This increment is more than 800% of the total revenue mobilisation of excise duty.
It will be recalled that in February 2024, Thegovernment of the Gambia entered into the Public Private Partnership (PPP) agreement with SICPA SA, a Swiss company, through the Ministry of Finance and Economic Affairs, with GRA as the implementing agency.
“It’s worth noting that from January 2023 to August 2023, the GRA collected D6, 312,608.78 on excise duty from manufacturers and importers. For the same period this year, the Authority collected D48, 460,427.78 on excise duty despite the low level of compliance. This shows that with the introduction of the SICPA project, revenue in excise stamps has increased significantly, ” GRA said in a press release on Wednesday, 11 September 2024.
The nation’s main revenue mobilisation agency indicates that the SICPA agreement is intended to implement revenue mobilisation solutions for excisable goods, telecom services, and refined fuels to generate more revenue to provide better services for all Gambians.
“This project is part of the reform priorities for the Gambia Revenue Authority under the current strategic plan 2020-2024, which seeks to take advantage of the efficiency digitalisation offers,” it declared
GRA added that the collection of excise duty has persistently remained below expectation due to illicit trade, under-declaration, and inefficiencies in the monitoring of these products. “This has resulted in loss of government revenue and unfair competition for legitimate, law-abiding manufacturers and importers.
The agency acknowledges the significance of the digital stamp in its desire to combat illicit trade and the protection of government revenue.
“Introducing digital stamps will help combat the illicit trade of smuggling, counterfeiting, and under-declaration as well as protect government revenue. They will ensure that products in circulation have paid the applicable taxes because GRA will be able to track and trace products throughout the entire supply chain. It will create a business environment of fair competition where all businesses will pay their fair share of taxes as excise products will be marked and traced,” Gambia Revenue Authority explains.
It further stated that after a series of publications to notify businesses, some still failed to comply. Going further to warn non-compliant businesses to do the needful as GRA is mandated to treat all businesses fairly, especially those that are complying with the law guiding business operations in the country.
