Gambiaj.com – (BANJUL, The Gambia) – The Ministry of Finance and Economic Affairs, in collaboration with the Gambia Revenue Authority (GRA), has issued a stern warning to producers and manufacturers who are failing to comply with the newly introduced Digital Tax Stamp System. Despite significant strides in transparency and tax assessment efficiency since the system’s launch in March 2024, a minority of businesses have not adhered to the regulations.

The Digital Tax Stamp System, which mandates the use of digital stamps on excisable goods such as bottled water, soft drinks, beer, wine, and spirits, was implemented to enhance compliance mechanisms and ensure accurate tax collection. The Ministry of Finance praised the business community for its overall commitment to the initiative, noting a substantial increase in compliance since its inception. However, it also highlighted ongoing challenges with non-compliance among a few producers and manufacturers.

In response, the Ministry has called on all government departments and agencies to support the initiative by ensuring that only goods bearing the digital excise tax stamp are purchased. Any department found purchasing non-compliant goods will be in violation of the government’s directive. The Ministry emphasized that taxation is essential to the functioning of government operations and that all government institutions must fully comply with the policy.

“This policy is not just a matter of revenue collection; it is a critical component in financing our National Development priorities,” the Ministry stated. “We urge all stakeholders to take this directive seriously and to support its enforcement to ensure the success of our national development goals.”

The Ministry reiterated its commitment to enforcing the Digital Tax Stamp System and warned that non-compliance would not be tolerated, as the success of this initiative is crucial for the country’s fiscal health.

With this move, the government aims to close any loopholes and ensure that all businesses contribute fairly to the nation’s development through proper tax compliance. The Ministry expressed confidence that with the continued support of all stakeholders, the Digital Tax Stamp System will become a cornerstone of the country’s economic governance.