Moroke Sekoboto
THE Revenue Services Lesotho (RSL) has partnered with the Agents of Foreign Firms Association of Lesotho (AFFAL) to try and enhance compliance by its members with the RSL’s revenue collection systems.
The AFFAL represents foreign companies which do business in Lesotho. It helps them with border clearance and customs compliance issues.
The two parties signed a memorandum of understanding (MoU) yesterday at the RSL Headquarters, at the Government Complex, in Maseru to ensure that foreign firms comply with their tax payment obligations.
In her address, RSL Commissioner General, ‘Mathabo Mokoko, said the collaborative effort was also aimed at creating a cohesive framework that enhances regulatory compliance, promote transparency, and foster a fair business environment.
The signing of the MoU marked a turning point in their collective journey towards fostering a more transparent, efficient, and compliant business environment in Lesotho.
“Our collaboration is rooted in the shared vision of enhancing information sharing and system integration to ensure robust compliance and streamlined operations,” Adv Mokoko said.
“Through the connection of our respective systems and the use of other appropriate means, the AFFAL will share pertinent information with the RSL,” Adv Mokoko said.
Adv Mokoko added that integration of their systems would not only facilitate seamless information exchange but also significantly enhance their capacity to monitor and manage the economic activities of foreign entities.
“This, in turn, will help in identifying and addressing potential compliance issues promptly and effectively. By doing so, we are not only safeguarding our economic interests but also fostering a business climate that is fair, competitive, and conducive to sustainable growth,” Adv Mokoko added.
She commended the AFFAL for their proactive approach and commitment to this cause.
“Your willingness to collaborate and share information underscores the importance of mutual trust and cooperation in achieving our goals. As we move forward, let us remember that the success of this partnership hinges on our continued dedication to transparency, integrity, and innovation.”
She said they were bound to build a framework that, not only enhanced compliance, but also promoted a culture of accountability and excellence within Lesotho’s business community.
“I am pleased to announce that, as part of our ongoing efforts to enhance compliance and streamline operations under the MoU between RSL and AFFAL, we will be implementing New Declaration Requirements effective from September 1st 2024.
“This significant development marks a crucial step forward in our collaborative journey to ensure that all foreign firms and agents operating within Lesotho adhere to our regulatory standards. The new declaration requirements are designed to improve the accuracy and efficiency of information sharing between FSL and AFFAL, thereby strengthening compliance,”.
In addition, the RSL Commissioner Client Services and Head of Customs, Rakokoana Makoa, said AFFAL had approached them for partnership since 2013 as there were challenges and an opportunity for improved compliance.
“We are excited for this significant milestone that has been achieved through the partnership and collaboration with various government departments, namely Ministry of Labour and Employment, Ministry of Trade, Industry and Business Development, Ministry of Local Government, Chieftainship, Home Affairs and Police and Directorate on Corruption and Economic Offences,” Mr Makoa said.
For his part AFFAL chairperson and Head of Fast Moving Consumer Goods, Tankiso Tšoaeli, expressed his appreciation to RSL saying this collaboration was long overdue.
“We are excited that today it is the signing of the MoU. We waited for over 10 years for this moment. We will adhere to the regulations and ensure that both RSL and AFFAL ensure compliance at the borders,” Mr Tšoaeli said.
