LRA hosts second tax expo
THE Lesotho Revenue Authority (LRA) will next week host the 2019 tax expo to enable various stakeholders to submit proposals to assist the finance ministry in amending or formulating new tax policies.
The two-day expo will run from 9 to 10 October 2019 at ‘Manthabiseng Convention Centre in Maseru. It is being held in line with the LRA’s Rea Aha — (we are building) strategy which calls for greater collaboration between the revenue collection agency and its stakeholders and clients.
LRA Public Relations Manager, Pheello Mphana, said the expo will discuss ways of integrating tax issues into the ongoing national reforms discourse and deliberate on how best the country can maximise benefits from the mining sector.
Mr Mphana said the expo will also discuss the role of taxation in attracting foreign direct investment and promoting entrepreneurship in Lesotho.
“The primary objective of this expo is to give all stakeholders an opportunity to look into issues that need attention in the formulation of new tax policies now that the Ministry of Finance is in the process of overhauling or formulating new policies,” Mr Mphana said.
“After the expo, a report containing recommendations will be submitted to the finance ministry as part of the LRA’s input on new tax policies. Participants will be drawn from the public and private sectors, non-governmental organisations, diplomatic missions and international organisations, academia, and the media. The public is also invited.”
The inaugural tax expo was held last year under the theme, Lekhetho khotla (tax gathering). Some of the major topics discussed last year were Lesotho’s Fiscal Policy and the Role of Taxation, Base Erosion and Profit Shifting, Safeguarding Lesotho’s Tax Base by Curbing Illicit Financial Flows, Sharing Economic Rent in the Extractive Industry, Deepening the Role of Tax Agents in Enhancing Tax Compliance, and Building a Culture of Voluntary Compliance in Lesotho.
Through the strategies adopted by its commissioner general, Thabo Khasipe, after he was reinstated to his position in 2018, the LRA has been on a positive roll. It managed to meet its revenue collection targets in the 2018/19 financial year, having failed to meet the target on two previous financial years.