ATAF TO REVIEW TAX REVENUE STRATEGIES

Think-tank organisation for tax and revenue management, African Tax Administration Forum (ATAF) has announced plans to put on spotlight tax revenue strategies for economies on the continent, at the Forum’s 7th General Assembly (GA).

“The GA will seek to rethink the revenue strategies to concretise the position of tax administration in domestic resource mobilisation for sustainable development for humanity,” ATAF Communications Coordinator, Refilwe Pitjeng explains.

Slated for beginning of November in Lagos, the event to be held in collaboration with Nigeria’s Federal Inland Revenue Service (FIRS) will proceed under the theme: Rethinking Revenue Strategies: the Human Face of Taxation. Pitjeng said the conference will bring together heads of African tax administrations, ministries of finance, representatives of international and continental organisations, development partners, as well as those from the private sector and academic institutions working in the tax arena. “It will seek to reaffirm the core values of ATAF in support of tax administrations to enhance revenue mobilisation streams that are required to facilitate national growth and improve economic activities,” Pitjeng. The GA will also host election of a new ATAF Council, as the current Council’s term comes to an end in November 2022.

ATAF strives to build efficient and effective tax administrations in Africa to become the leader on African tax matters, enhance economic development and improve the living standards of the people of Africa.

Though governments are eager to increase tax revenue, on the economy, Finance Minister Peggy Serame has recently cut and exempted certain goods from tax and these include among others; adjustment of value added tax (VAT) from 14 percent to 12 percent, making cooking oil and liquid petroleum gas zero-rated for VAT purposes.

Serame is however optimistic that despite expected budget deficit due to the measures, spending and economic activity especially among low income households will be stimulated.