Sep 18, 2008, 6:37 AM
MegaBank Gambia Limited yesterday signed a Memorandum of Understanding (MoU) with the Gambia Revenue Authority (GRA).
The agreement would provide the general public the convenience of paying taxes and duties through the bank.
The signing ceremony was held at the bank’s branch office on Kairaba Avenue.
Speaking at the ceremony, Yankuba Darboe, Commissioner General of GRA, told the gathering that the government has been engaging in vital reforms aimed at improving the efficiency and effectiveness of public service delivery.
Mr Darboe said that in concurrence with this, the board and management of GRA have various strategies targeting trade facilitation and making tax collection effective, efficient, fair, easy and at a minimum cost for the taxpayers.
According to Mr Darboe, having an MoU with the commercial banks like MegaBank has enormous advantages, some of which are: offering taxpayers the option to pay taxes and customs duties at any of the MegaBank branches, and to ease the burden on taxpayers from the need to travel all the way to GRA’s Banjul headquarters for payment.
This, he added, would yield cost savings and mitigate the risk associated with travelling with cash to make payment at GRA offices.
The GRA CG appealed to taxpayers to commence utilizing MegaBank facilities for the payment of taxes and customs duties, while urging the management of the bank to work closely with GRA staff in contributing to nation-building whilst ensuring that all aspects of the MoU are respected.
In her speech, MegaBank Ag. Managing Director Mbosse Ndiaye said as a Gambian bank, their concern is the development of the country, adding that they have a lot to do to support the laudable progressive economic programmes of President Yahya Jammeh. Their collaboration would add a milestone to the development being pioneered by the government, she said.
Mrs Ndiaye said tax collection is part of their mission towards their customers, which goes a long way to providing efficient service delivery through innovative financial solutions, while maintaining a return on investments.
In his remarks on the occasion, the GRA board chairman, Mamour Malick Jagne, said that as a revenue administration entity, GRA is totally committed to improving its service delivery at all levels.
Mr Jagne noted that easing tax payments through the use of commercial banks is one of GRA’s key strategic plans and is in line with government’s reform agenda.
“You are the fourth bank to have met all our requirements,” Mr Jagne said. “We acknowledge your managerial, technical and technological competence that made Megabank able to partner with GRA and we look forward to working with you.”
Alhagie Saihou Denton, GRA director of finance and accounting, said the bank has never defaulted in terms of paying the GRA VAT.
He also assured the bank that the relationship would be of mutual benefit to both parties.
Mr Denton assured the bank officials that they have done the right by partnering with GRA in collecting VAT from customers.
Buba Sanyang, chief finance officer of the bank, delivered the vote of thanks.