GRA, FBN Bank sign MoU for payment of tax

Thursday, November 09, 2017

The Gambia Revenue Authority (GRA), and FBN Bank Gambia Ltd yesterday signed a memorandum of understanding for direct payment of tax and custom duties.

The ceremony that brought together officials of the two financial institutions was held at the Ocean Bay Hotel.

In his statement, the commissioner general of GRA, Yankuba Darboe, said the signing ceremony was yet another milestone with a new partner like FBN Bank Gambia Ltd.

The commissioner general said that the GRA had been championing reforms in all areas of operation from trade facilitation and revenue mobilisation to reinforcement of tax laws and protection against banned and restricted goods.

According to him, the board and management of the authority continue to implement series of reforms aim at facilitating trade and making tax collection effective, efficient, fair, and easy at minimum cost to tax payers.

On revenue mobilisation, he said the authority has long recognised the important role commercial banks play in helping the authority efficiently and effectively execute this core mandate, given their wealth of cashiering knowledge and experience at their disposal and their proximity to the tax payers.

This, he said, has necessitated the initiative with mutually beneficial agreements with qualifying commercial banks.

Commissioner Darboe congratulated the FBN Bank Gambia Ltd for meeting the Information Technology infrastructure and other requirements to collect and remit tax and duties on behalf of GRA.

He said that partnering with commercial banks and in this case FBN Bank has many advantages, as it offers taxpayers the option to pay tax and custom duties at any of the bank’s branches throughout the country.

According to him, it reduces the burden on taxpayers by eliminating the need to travel all the way to GRA for payment, thus saving time and resources.

The GRA commissioner general assured everyone that in its efforts to facilitate tax payment, GRA boards and management are committed to extending this scheme to all the commercial banks in the country that satisfy the requirements.

In his remark, the GRA chairman of Board of Directors, Mamour Malick Jagne, said GRA is confident that FBN Bank would deliver effective and professional service to the customers.

He also indicated that the board was grateful to the technical team who worked behind the scenes and made the facility a reality.

He also thanked the management of FBN Bank for agreeing to work with the GRA to make tax payment and collection easier for the public.

As a revenue administration, he said GRA was totally committed to improving its service delivery at all levels.

In her welcome remark, the Managing Director of FBN Bank Gambia Ltd, Uloma Kings-Olikagu, commended the management and staff of GRA for partnering with her bank in collecting direct taxes for the Government.

She said this was step in the right direction and also described it as a big trust, while commending GRA for making this a reality.

For his part,the chairman of Board of Director of FBN Bank, expressed similar sentiment and thanked the GRA management for the positive move.

 He assured GRA that the Bank would respect all the conditions attached to the MoU and would deliver up to expectation.

Author: Abdoulie Nyockeh