(Daily Observer)--The minister of Finance and Economic
Affairs has revealed that a tax tribunal will be established while
taxpayer education will also be reinforced so as to reverse the current
decline in revenue, reducing the deficit to the target that will allow
sustainable growth in the economy. Mambury Njie made these revelations
on Thursday evening while presenting the 2012 Draft Budget Estimates of
Revenue and Expenditure including development expenditure of the
government of The Gambia.
He said his Ministry will
continue tax reforms, and that such measures will include reducing the
maximum tax rate, broaden the tax base, and enhance taxpayers’
compliance. “Over the last few years, my Ministry made concerted
efforts to improve tax policy and administration. However, volatility in
revenue performance has been evident which affects both the budget
preparation and execution process. In almost all indicators revenue
performance signals a downward trend in recent years,” he noted.
He
added: “In addition, preparations are on course for the implementation
of the VAT while it is envisaged that the VAT would simplify their tax
structure and also increase revenue collection.”
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