GRA engages stakeholders on ‘transfer pricing’

The Authority aims to build on the positive revenue performance registered over the years, a hallmark indicating that capacity building is dear to the leadership of GRA.  

The latest training GRA organised was on transfer pricing for various taxpayers to have in-depth knowledge about transfer pricing principles.

In addressing the meeting, Commissioner General Yankuba Darboe applauded all including the taxpayers and other stakeholders for taking part in the transfer pricing training, organised with the valued support of its partner - the African Tax Administration Forum (ATAF).

CG Darboe appreciated ATAF for its continued commitment to strengthening the capacity of African tax administrations, including Gambia’s. “Your commitment to supporting African tax administrations is commendable,” he applauded.  “Your willingness to provide this high- level technical assistance is not just an act of partnership but an investment in our revenue mobilization drive. This training marks a significant step in our continuous journey to strengthen the administrative capabilities of the GRA.” 

The GRA boss further stated that transfer pricing is one of the most complex areas of international taxation and has become increasingly significant in today globalised economy.

“While The Gambia may not host large number of multinational corporations, the growth of cross-border trade and investment means that transfer pricing issues are gradually becoming relevant to our tax landscape,” CG Darboe noted, saying: “It is therefore crucial that we equip our staff with the right knowledge, tools, and expertise to handle such matters effectively.”

According to Mr Darboe, the revenue base is critical for financial national development, saying that transfer pricing, if not well understood and managed, could present challenges such as “erosion of the tax base, profit shifting, and loss of much-needed domestic revenue”. 

For that reason, he stated, capacity building in this area is not just timely but essential to safeguarding the country’s tax system and ensuring fairness in revenue collection.

The GRA leading light also stated that the training offered a unique opportunity for GRA staff to deepen their understanding of transfer pricing principles, practical applications, and enforcement strategies.

“The knowledge gained will enhance our ability to identify, analyze, and address transfer pricing risks whenever they arise,” he emphasised, entreating participants to approach the training with keen interest, active participation, and a spirit of collaboration.

He again thanked ATAF for its invaluable partnership and technical assistance, saying: “Your support continues to reinforce our efforts in building a modern, efficient, and responsive tax administration that meets both national and international standards.”

Concluding CG Darboe urged all participants to make the most of the training and apply the knowledge gained in their work.