The Ministry of Finance and Economic Affairs is engaged in talks related to the hike in excise tax in alcoholic beverages from 10 percent to 75 percent, a press release by the Government Spokesperson reveals.
“The Finance Ministry has since been having fruitful talks with The National Assembly Select Committee on Trade and the sister Ministry of Trade to work out a lasting solution to this and similar matters,” the release asserted yesterday.
In a similar vein, Mr Borri Darboe the Country Sales and Marketing Manager of the Banjul Breweries Ltd, which is adversely affected by the tax hike, yesterday told Foroyaa that they gave the government their proposal on Friday and are now listening to them (the government).
The release from the Government pointed out that government is conscious of the significant role businesses play in the Gambian economy and thanked the operators in the sector for their usual support and cooperation.
When the government has a tax proposal it takes it to the National Assembly for approval and once approved it becomes law. The argument of the government is that the hike in the excise rate on alcoholic beverages is now law as it had the approval of the National Assembly. To revise it would require approval of the National Assembly.