20.2 C
Sierra Leone
Tuesday, July 5, 2022
spot_img

NRA to compensate whistle blowers who expose tax evaders

By Alfred Koroma

The National Revenue Authority (NRA) will start compensating whistle blowers from fines collected from business people who fail to give the required GST receipt to their customers, says Ibrahim Sorie Kamara, NRA Commissioner for Domestic Tax Revenue.

The Commissioner said NRA will collect tax on the transaction a business owner evades and charge a penalty for evading the tax. From the penalty collected, 25 percent will go to the Commission from which the Commission gives out 25 percent to the whistle.  He encourages people to bring information that has to do with tax evasion to NRA, adding that the Finance Act 2022 provides for NRA to compensate whistle blowers on tax evasion.  

“If you buy any goods and you are not given the correct receipt, bring the receipt you are given to NRA. We will penalise the person and pay you part of it,” he said. 

Commissioner Kamara disclosed the information while making a presentation during a one-day training workshop organized by Budget Advocacy Network (BAN).  BAN organized the workshop to  build the capacity of journalist on key public financial management  issues including revenue mobilization strategy for the 2022 Financial Year, the ruling out of the ECR machines, the processes involved in the development of the Finance Act, the process of allocating  budgets to MDAs  and highlights of content of  General-Purpose Financial Statements (GPFS). 

The Commissioner also disclosed that NRA has distributed over three thousand two hundred (3,200) ECR Machines to businesses with less than eight hundred left in store to be distributed. He urged business people to register and collect the remaining machines as they will start buying them when the few left with the Commission would have been exhausted.

There has been misconception around the installation of the ECR used to calculate Goods and Services Tax (GST) among business people.  But the Commissioner said ECR machine is used to collect 15 percent GST from consumers buying in shops that have over one hundred million Leones turnover, saying that the machine has been programmed to automatically do deduction and informs the buyer what has been deducted for GST through receipt coming from it.

Representatives from the Minister of Finance also made presentations, educating journalists on the processes involved in the development of the Finance Act, the process of budgets allocation to MDAs highlights of content of GPFS. 

Related Articles

Latest Articles