The National Revenue Authority on Thursday 11th June held a meeting with large tax payers at the Kimbima hotel in Freetown. The Commissioner General of NRA, Alieu Sesay chaired the meeting the meeting which was largely dominated by employers of the business community.Mr. Alieu Sesay in his opening statement disclosed to the large tax payers that the Goods and Services Act has gone through parliamentary ratification and is now awaiting presidential assent. He also stated that the Act will be effective from the 1st of September this year.
The NRA boss encouraged the large tax payers to comply with the payment of taxes as that will help the NRA to meet international standards of tax collection. He however cautioned that the NRA has the power to impose penalties on those that will fail to comply with tax payment.
The meeting was organized to have a frank discussion with members of the business community who constitute the large tax payers. Issues like Revenue budget Estimate/Revision of Estimates, Quarterly Instruments and Final tax, Withholding tax obligations and PAYE, Cooperating in tax field audits and responses, Tax clearances, Income Tax Returns and dealings and Interests and penalty provisions formed highlights of discussion.
The Acting Commissioner for Income Tax Department of NRA, Ibrahim Sorie Kamara advised members of the business community and large tax payers to be paying their taxes on a timely basis as that will help the NRA to issue certificates of payment to them promptly. He further stated that business houses have the opportunity to negotiate with the NRA on when they will pay their taxes within a reasonable period of time. He encouraged them to keep proper records of payments as this has been a problem with most business houses.
The Large tax payers asked questions and raised several issues that were addressed by the Commissioner General and the Acting Income Tax commissioner.
By William Freeman