(Wednesday 15th January 2020 Issue)
The Gambia Revenue Authority (GRA) has strongly dismissed as false the claims that are making rounds on social media that there is an increase in international tax rates across all consignments bound for The Gambia.
Below is the full text of the news release of the GRA:
“It has come to the knowledge of the Gambia Revenue Authority (GRA) that certain social media outlets are carrying false news about an increase in international tax rates across all consignments bound for The Gambia.
We want to inform the general public that increases in tax rates are policy matters that are the exclusive prerogative of the Minister of Finance and Economic Affairs. We can confirm that the allegations being carried by the media outlets concerned are not supported by the policy measures contained in the just presented 2020 budget speech by the Hon. Minister of Finance and Economic affairs before the National Assembly in December, 2019.”
“We want to inform the General public that the customs laws relating to valuation of goods are based first and foremost on the transaction values of consignments based on original invoices obtained from the suppliers of the goods. Where such original documents are not available to GRA for valuation purposes, the rules allow us to resort to other fall back methods to arrive at the correct values for the consignments. We have observed that many importers and their clearing and forwarding agents are not providing original invoices with accurate information on the true cost, insurance and freight (CIF) which is the basis for the valuation of their goods. Hence, in 2020 we have decided to apply the fall back methods on all those unscrupulous importers and clearing and forwarding agents who are confirmed to be submitting faked invoices with the sole intention to make an under declaration.
We want to assure the general public that all those who submit original authentic invoices will receive full acceptance from GRA for valuation purposes.”
“GRA will respect the revenue laws by making sure that importers are fairly treated and no one will be subjected to illegal payments. However, we will not condone any behavior that is tantamount to false declaration and underpayment.”
“GRA will facilitate trade and provide all the necessary support to importers and clearing and forwarding agents who wish (sic) to comply with the laws in place.”