GAMBIAN LAWMAKERS APPROVE TAX REDUCTION ON ALCOHOLIC

EYEAFRICA TV: BANJUL, The Gambia: The National Assembly has approved reduction of excise tax on alcoholic beverages in today extra ordinary session months after public outcry on tax increment in December 2018.

Minister of Finance and Economic Affairs Mambureh Njie recalled that the increment was necessitated by concern on social safety.

As approved by the assembly, domestic tax on beer which was at 75 percent has been reduced to 35 percent.

Tax on spirit and wine has each gone down to 40 percent from the 60 percent as of yesterday.

The 2018 tax increment on alcoholic beverages did not go down well with the brewery industry whose main player announced its inability to continue operation as a result of high taxes.

In May, Julbrew observed the annual Workers Day to challenge the increment of taxes on alcohol from 25 to 70 percent. The move led to the laying off of twenty workers by the company before announcing closure in operation.

Argument following the adoption of the new tax rates, the assembly members took rounds both for and against the motion.

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