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GRA debunks International Tax Rate increment rumor

 

 

 

 

 

 

Photo: Yankuba Darboe, Commissioner General GRA

The Gambia Revenue Authority (GRA) has debunked reports of increment in International Tax Rate on all consignments bound for The Gambia, being spread on social media. The country’s revenue authority said the customs laws relating to valuation of goods are based on the transaction values of consignments based on original invoices obtained from the suppliers of the goods.

This was contained in a press release issued by GRA.

Below is a copy of the release.

GAMBIA REVENUE AUTHORITY PRESS RELEASE
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 on 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 illegal payments. However, we will not condone any behavior that tantamounts to false declaration and underpayment.
GRA will facilitate trade and provide all the necessary support to importers and clearing and forwarding agents who wishes to comply with the laws in place.

END.

 

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