The Gambia lost a lot of money in 2024. It was because of duty waivers. The amount was D4.33 billion.
The country gives these waivers for a few reasons. One is to help the economy grow. Another is to bring in more money. The waivers also make trade easier. And they can attract investors.
Some waivers have a special purpose. They let groups bring in items for charity. The items come in without taxes. This aids certain projects.
But the waivers have a downside. The government loses funds. And people may not follow the rules.
Leaders want to fix this and improve the system. There needs to be more oversight, and any misuse should stop.
Yankuba Darboe is an important official. He deals with taxes. Mr. Darboe talked about this issue recently.
He said a committee handles certain waivers. It includes people from different agencies. When they allow a waiver, they tell his group, and then his team makes it happen.
Mr. Darboe's office monitors this closely. They track the cost of the waivers, which helps the government decide what to do next.
The country has also changed the tax on rice. People who bring in rice now pay less. The goal is to help more people get this key food.
Importers do have to pay a small fee—5.1 percent—but they no longer owe other taxes. This lets officials know how much rice is coming in, allowing them to make informed choices.
The duty waivers are a complex matter. They have pros and cons. But the government is committed to getting it right. Better data and policies are part of the plan.
The country gives these waivers for a few reasons. One is to help the economy grow. Another is to bring in more money. The waivers also make trade easier. And they can attract investors.
Some waivers have a special purpose. They let groups bring in items for charity. The items come in without taxes. This aids certain projects.
But the waivers have a downside. The government loses funds. And people may not follow the rules.
Leaders want to fix this and improve the system. There needs to be more oversight, and any misuse should stop.
Yankuba Darboe is an important official. He deals with taxes. Mr. Darboe talked about this issue recently.
He said a committee handles certain waivers. It includes people from different agencies. When they allow a waiver, they tell his group, and then his team makes it happen.
Mr. Darboe's office monitors this closely. They track the cost of the waivers, which helps the government decide what to do next.
The country has also changed the tax on rice. People who bring in rice now pay less. The goal is to help more people get this key food.
Importers do have to pay a small fee—5.1 percent—but they no longer owe other taxes. This lets officials know how much rice is coming in, allowing them to make informed choices.
The duty waivers are a complex matter. They have pros and cons. But the government is committed to getting it right. Better data and policies are part of the plan.
