Bantaba in Cyberspace

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Politics: Gambian politics

Customers to pay 15% tax on all foreign currency

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T O P I C R E V I E W
Momodou	Posted - 05 Nov 2016 : 13:28:05 Bank customers to pay 15% tax on all foreign currency transactions effective immediately By Sidi Sanneh http://sidisanneh.blogspot.dk/2016/11/bank-customers-to-pay-15-tax-on-all.html Commercial banks have received a circular from the Central Bank of The Gambia informing them that, effective immediately, they must collect a 15% tax on the value of each foreign currency transaction. Amounts collected must be paid directly to the Central Bank. Beneficiaries of diaspora remittances will see a 15% reduction in the amounts they receive which will go to financing the reelection campaign of Yaya Jammeh. This transaction tax adds to the cost of remitting money to the Gambia and to the cost of doing business in The Gambia, in general, This decision signals the start of Jammeh's election campaign. The revenue generated will go to finance Jammeh's re-election campaign. The use of public funds to finance his election campaign is consistent with this year's Human Rights Watch's report on The Gambia that cites this issue as one of the problems that must be addressed before the 1st December presidential elections. If the problem persists, HRW recommends that sanctions be applied by Gambian's development partners............... http://sidisanneh.blogspot.dk/2016/11/bank-customers-to-pay-15-tax-on-all.html
4 L A T E S T R E P L I E S (Newest First)
toubab1020	Posted - 15 Nov 2016 : 21:54:06 Thanks. quote: Originally posted by Momodou Toubab, the Exchange rates dropped by 15% or more. I got D7,01 for 1 DKK, now its D6,11
Momodou	Posted - 15 Nov 2016 : 17:31:09 Toubab, the Exchange rates dropped by 15% or more. I got D7,01 for 1 DKK, now its D6,11
toubab1020	Posted - 15 Nov 2016 : 16:06:03 What has happened regarding this tax? ANYONE enlighten me ? quote: Originally posted by toubab1020 This TAX will affect many people in Gambia who really need the help offered to them by friends and relatives living abroad.
toubab1020	Posted - 07 Nov 2016 : 17:09:09 This TAX will affect many people in Gambia who really need the help offered to them by friends and relatives living abroad.

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