During a recent round table meeting convened by the National Revenue Authority (NRA), prominent taxpayers voiced their concerns regarding the challenges they face due to the influx of smuggled goods entering the country through its borders without proper taxation.

In response, NRA officials reassured these taxpayers that they are committed to taking decisive action to prevent illegal imports and hold offenders accountable.

In her address, the Commissioner General of the National Revenue Authority (NRA), Madam Jeneba Bangura, emphasized the Authority’s unwavering determination not only to meet but exceed its revenue targets. She highlighted the significant contribution of large taxpayers, who constitute 20% of the Authority’s tax register and generate 80% of its revenue. This underscores the importance of maintaining open communication and collaboration with these key stakeholders.

Commissioner Bangura revealed that the government has increasingly relied on the NRA as a primary revenue source, as indicated in the Minister of Finance’s recent budget speech. She credited the support of large taxpayers for the Authority’s ability to raise substantial funds, emphasizing the crucial role they play in achieving revenue goals.

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To enhance revenue collection efficiency, Commissioner Bangura outlined key reforms implemented by the NRA, including the adoption of the Finance Act and recommendations from the IMF to automate systems. Notable initiatives such as the ITAS and ECR systems, tax stamp implementation, fuel marking, and automation of circulation fees at SLRSA have been instrumental in driving revenue growth.

Looking ahead, Commissioner Bangura emphasized the importance of large taxpayers’ compliance with NRA regulations to sustain revenue targets without imposing new taxes. By fostering a culture of cooperation and adherence to tax laws, the NRA aims to ensure continued success in revenue collection efforts.

She emphasized the importance of improving tax compliance as a key factor in increasing tax revenue. It was highlighted that the implementation of effective systems is crucial for success, and creating an environment conducive to compliance is essential.

Gratitude was expressed towards large taxpayers for their continued support and compliance over the years.

Tennyson Bio, Commissioner for the Customs and Excise Department, emphasized the significance of this period in the financial year. He urged large taxpayers to ensure the accuracy of their registration details, including their T-numbers, among other important information. Additionally, he reminded foreign nationals residing in the country to fulfill their obligations such as paying residential permits and work permits.

Various speakers, including the Commissioner of the Domestic Tax Department and Deputy Commissioner General 2, contributed to the roundtable discussion. Their insights and perspectives added depth to the conversation.