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Momodou
Denmark
11634 Posts |
 Posted - 18 Dec 2007 : 21:32:33
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Errors In Tax LawAct Rectified
By Bubacarr K. Sowe
The National Assembly on Wednesday, December 12, passed a bill correcting typographical errors and omissions contained in the 2007 amendment to the Income and Sales Tax Act.
The Secretary of State for Finance and Economic Affairs, Musa Balla Gaye, who tabled the amendment, said the Act of 2007 contains some typographical errors and in some instances omissions of certain phrases and words. Mr. Gaye added that this has created ambiguity and confusion, thereby creating grounds for dispute.
It is therefore necessary to enact the proposed amendment in order to remove the possibility of different interpretations for the law and potential conflict, the Secretary of State said.
He further said this would guarantee the smooth operation of this important sector and ensure that The Gambia is legally protected in its desire to secure maximum benefit from the exploitation and taxation of the petroleum and gas deposit.
Borry Colley, the National Assembly Member for Foni Jarrol, seconding the Bill urged his colleagues to enact the legislation, since it is meant to correct mistakes in the law passed in September.
Sidia Jatta, NMA for Wuli West, said this development has shown the level of alertness by the Secretary of State for this particular legislation.
The minority leader and member for Kiang West said the amendment of the errors would legally protect The Gambia.
Source: Foroyaa Newspaper Burning Issues
Issue No. 148, 17 18 December 2007
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