The Daily Observer (Banjul)
Musa Ndow and Aji Fatou Faal
22 December 2011
The government of The Gambia has announced that it will introduce a Value Added Tax System in 2013. This was confirmed Friday by the minister of Finance and Economic Affairs, Mambury Njie, while presenting the 2012 Budget before the National Assembly. He said the new system will help expand the tax base and improve tax collection system and streamline tax exemptions in order to minimise tax expenditures.
Minister Njie further stated that government has also embarked on budgetary reforms aimed at introducing a medium-term horizon in their planning and budgeting system. He added: “The Medium Term Expenditure Framework (MTF) will constitute budget planning framework that provides incentives for policy makers and budget planners to formulate medium-term budget plans by linking planning and policy formulation with budget allocations; aligning the annual budget decisions with medium term macro-fiscal strategy; restricting expenditures within realistic resources envelope and improving monitoring and tracking of budget performance.”
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