Tax au­thor­ity ex­ceeds tar­get

Lesotho Times - - Business -

Dr Khaketla said the gov­ern­ment would con­tinue to in­crease the tar­get an­nu­ally in re­sponse to the di­min­ish­ing SACU rev­enues. Dur­ing her na­tional bud­get pre­sen­ta­tion in Fe­bru­ary this year, the min­is­ter said rev­enues from the cus­toms union, whose mem­bers also in­clude Botswana, Namibia, South Africa, and Swazi­land are set to de­cline from 23 per­cent to 17 per­cent of gross do­mes­tic prod­uct in the 2016/17 fi­nan­cial year. She said the to­tal rev­enue tar­get for the 2015/16 fi­nan­cial year was M14.405.7 mil­lion, of which SACU recorded M6 398.2 mil- lion.

How­ever, in the 2016/17 bud­get, Dr ‘Khaketla pro­jected a to­tal rev­enue of M15.473.8 mil­lion, of which SACU re­ceipts ac­counted for M4.593.8 mil­lion.

“We are grad­u­ally in­creas­ing it (the tar­get) be­cause do­mes­tic rev­enue is crit­i­cal. SACU, which is the main con­trib­u­tor to the fis­cus, is de­clin­ing,” she said.

“If you were lis­ten­ing to the bud­get speech, the SACU rev­enue last year was M6 bil­lion, but this year it is M4 bil­lion. That is why we have to find ways of in­creas­ing our do­mes­tic rev­enues.”

On his part, LRA Act­ing Com­mis­sioner-gen­eral, Ad­vo­cate Reale­boha Mathaba, said while they had ex­ceeded their tar­get, there was al­ways room for im­prove­ment. He

said among other ini­tia­tives the rev­enue au­thor­ity was ef­fect­ing was the mod­ernising of its ser­vices and train­ing of per­son­nel.

“While we have been con­sis­tently ex­ceed­ing our tar­gets, there is still room for im­prove­ment as far as our ser­vice is con­cerned,” said Adv Mathaba.

“We are com­mit­ted to mod­ernising our pro­cesses and in ca­pac­i­tat­ing our staff in or­der to im­prove the ser­vices we pro­vide to our peo­ple.”

He said de­spite the chal­lenges as­so­ci­ated with the non-com­pli­ance of some tax­pay­ers, there was a marked im­prove­ment in the num­bers of peo­ple reg­is­ter­ing, fil­ing and pay­ing their taxes on time.

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