The report seen by the Point also confirmed similar statements by World Bank and IMF officials regarding comparable performance and thus accordingly praised the “operational methods” of GRA.
However, it also revealed “tax revenue shortfalls in the first quarter of 2023” but further disclosed that “the Internal Affairs Unit at the Revenue Authority is now fully functional… and GRA collection “exceeded expectations”.
Furthermore, the “smooth coordination” between GRA and the newly created Tax Revenue Department within the Ministry of Finance was also commended.
The reported progress by the GRA is mainly due to the “accomplishment of the ASYCUDA WORLD and the establishment of a dry port…”
Additionally, tax incentives, digitalisation, streamlining corporate income tax and duty waiver exemptions are among the optimistic factors mentioned.
Despite the demanding “to-do list”, GRA’s efforts in enhancing revenue performance through “strengthening enforcement via data matching, tax audits, and public awareness campaigns” which is lacking in many other countries are equally applauded.
Separately, the importance of “political stability, economic growth, good governance and the absence of violence” was also highlighted.
Consequently, if such methods are respected and adhered to, it would significantly improve the economy regardless of the negative effects of Covid 19 Pandemic and the spillovers from the Ukraine war combined with other negative factors.
Source link : https://thepoint.gm/africa/gambia/headlines/gra-among-leading-revenue-collectors-in-africa
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Publish date : 2023-10-09 07:00:00
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