Thursday, September 21

Capital Gains Tax Remains ACardinal Challenge To GRA- Matty NjieSenghore

Pinterest LinkedIn Tumblr +

Capital gains and rental income taxes have been identified as a cardinal challenge for the Gambia Revenue Authority that the collection is low and becoming unbearable and unacceptable to revenue laws.

This is affecting the GRA in the discharge of its function despite the Gambia is a tax-based economy and payment of taxes should be every patriotic citizen’s responsibility in ensuring that taxes are paid to the states to boost national development.

Matty Njie Senghore, Deputy Director of Compliance and Taxpayer Education Unit under (GRA) revealed this during a regional taxpayer’s seminar with business communities and district authority held at Mansakonko, Lower River Region recently.

According to her, the Gambia Revenue Authority (GRA) which is mandated to collect revenue on behalf of the Government has realized that most of the business people who are engaging in land deal agencies and; landlords collecting money from tenants are not forthcoming to pay their dues to the states. 

“These are areas where the Government is losing a lot of revenue as a result of non-compliance to settle their tax obligation to the states.  

She said considering the salary paid to civil servants it is minimal but with all that, the Government deducts their taxes at the end of each month, “So I see no reason why business tycoons who are into selling and buying of lands should deviate from paying their fair share of taxes to the states.”

She also raised concern over the amount of money that the landlords are collecting from their tenants on a monthly basis, while they are still reluctant to pay their taxes to the states which she described as unfair.

She further stated that the Gambia Revenue Authority (GRA) would continue to work hand in glove with the Ministry of Lands through the Area Councils to trace out some of these defaulters and anyone found wanting would face the revenue laws penalties. 

According to her, GRA has made it easy for everyone, for the fact that anyone who is engaging in a meaningful business making a profit of more than two thousand dalasi should endeavor to pay his or her taxes. “But in this case (GRA) would allow you to assess yourself and come and make your declaration and set up a payment plan.”

She went on that they allowed pay-as-you-earn while advising business people to be honest in making the declaration otherwise if they are found wanting, or giving a false declaration, there is a penalty for that matter.