My Gov’t committed to making Gambia attractive for business  - Barrow

The President made this reiterated resolve at the Gambia Revenue Authority’s 6^th Edition of the Taxpayers’ Award held on Saturday 2 March 2024 at the Kairaba Beach Hotel in Senegambia, where 32 of the most compliant taxpayers in 2023 were awarded.

“I assure the business community that your contribution to the nation goes far beyond the taxes you pay. You are the lifeblood of our economy, by creating jobs, generating wealth, and driving innovation. I assure you further that my government will remain committed to making The Gambia a more attractive place for business,” President Barrow said.

At present, he added, the government has been introducing trade-facilitation measures to streamline international trade, improve efficiency, and enhance Gambia business competitive advantage within the sub-region and Africa as a whole.

“Through GRA and other outlets, my administration will steadfastly translate into action and sustain its commitment to automating all business processes to simplify trade and ease the compliance burden on you,” he assured the private sector, saying:  “To the esteemed recipients of tonight’s awards I say, congratulations on this well-deserved recognition. Your compliance is not just a matter of fulfilling your legal obligation. It shows the degree of your patriotism and commitment to nation building. Wear your awards with pride, for they represent national honour.

“On behalf of my government, I pledge to continue working tirelessly to create a conducive environment for all businesses to thrive. We will continue to invest in infrastructure, improve access to finance, and promote a level playing field for all. Together, we can make The Gambia a hub for investment and economic prosperity.”

Given the nature of the Gambian economy, taxes form the bedrock of the country’s financial muscle, the president said, adding: “The very fabric of our government, our infrastructure, and the essential services we all rely on are interwoven with the taxes you, the taxpayers, pay.”

He said it is the contributions of taxpayers that power the engine of government, thus enabling the government to invest in vital national programmes and build infrastructure to create a brighter future for all Gambians.

“I am filled with immense pride, therefore, to acknowledge the continued dedication and commitment of our business community in providing the tax revenue needed to fund the government’s numerous development programmes,” he said, commending the Gambia Revenue Authority (GRA) for conceiving the laudable initiative of the taxpayers award and making it an annual event.

He said he had learnt that, since the inception of the taxpayers award, voluntary compliance had improved radically and that it had sparked a “positive competitive spirit”  within the business community. 

“Distinguished ladies and gentlemen, it will please you to know that, since the inception of my administration in 2017, we have realised a  remarkable 72% increase in tax revenue, rising from D9.13 billion in 2017 to D15.79 billion in 2023,” he recounted, saying: “This is evidence of our sound fiscal policies, our unwavering focus on domestic revenue mobilisation, and the tireless efforts of the GRA Board, Management, and entire staff.”

In his remarks, Finance Minister Seedy Keita commended also GRA for its prudent services to support the government for national development through mobilization of the necessary resources to run the affairs of state.

He also commended the taxpayers for being compliant to paying taxes, which is “funding vital government programs”. Through enhanced compliance, he said, GRA had increase tax revenue “not by increasing tax rate” (except for alcohol) but by “expanding the tax base”.

Commissioner General of the Gambia Revenue Authority,  Yankuba Darboe, in his statement on the occasion: “This distinguished ceremony gathers us each year to celebrate and recognise the taxpayers who consistently file their tax returns on time, consistently pay their taxes on time, present authentic and original customs documents and comply with the relevant provisions of the revenue laws.

“Tonight, we are especially honoured to be joined by our esteemed chief guest of honour, His Excellency, the President of the Republic of The Gambia, Mr Adama Barrow.”

He applauded the President for the great importance he attaches to the services and programmes of GRA, saying: “This underscores your commitment to fostering a culture of tax compliance and recognising the vital role taxpayers play in our national development. We are deeply grateful for your continued leadership and support.”

To the business community and taxpayers, he said: “ Your commitment  to fulfilling your civic duty ensures the government has the resources necessary to invest in public services, infrastructure, and development programs  that benefit every Gambian.”

GRA Board Chair Lucy Fye-Jagne highlighted the significant strides made by the GRA Board over the past year. “Our commitment to excellence and innovation in tax administration has been unwavering as evidenced by several notable accomplishments. These accomplishments have been picked up by the media who wrote that GRA was recognised by the International Finance and Economic Institutions by stating the GRA is among the leading revenue collectors in the continent. Additionally, the article further confirmed that IMF and the World Bank Group officials attest to the outstanding performance of GRA through its operational methods which includes the operationalization of ASYCUDA World system.”

The topmost taxpayers of the year among the 32 enterprises and institutions awarded for the year 2023 included the following: Largest Taxpayer of the Year 2023 - Africell; GSM Taxpayer of the Year 2023 - QCell; Import VAT Taxpayer of the Year 2023 - Fouta Enterprise Ltd; Importer of the Year 2023 - J and B Trading Company Ltd; Bank of the Year 2023 - Ecobank Gambia Ltd; Oil Marketing Taxpayer of the Year - Jah Oil Company Ltd; Basic Food Importer of the Year - Shyben A. Madi and Sons Ltd; Manufacturer of the Year  2023 - Nessim Trading Company Ltd; Public Enterprise Taxpayer of the Year 2023 - Gambia Ports Authority (GPA); Hotel of the Year 2023 - Palma Rima Hotel.