Majoro wants innovative  ways to boost revenue

Majoro wants innovative ways to boost revenue

MASERU – FINANCE Minister Dr Moeketsi Majoro yesterday said it is critical for the Lesotho Revenue Authority (LRA) to come up with dynamic, innovative ideas to address challenges like unemployment.
Majoro was speaking at a tax expo organised by the LRA.

In his keynote address, Majoro said tax reforms are critical if the government is to raise funds for development projects.
He said the tax reforms must touch on issues such as the tax structure, tax mix, taxpayers’ confidentiality and a funding formula for the LRA.
“Previously taxpayers’ confidentiality was breached and (that) should not happen again,” Majoro said.
He said the LRA needed a sustainable funding model.

Development Planning Minister, Tlohelang Aumane, said political instability hampers the implementation of economic development plans.
When there is political instability, foreign aid flows shrink with investors reluctant to expand or increase their investment which results in a shrinking tax base.
He said economic reforms are a key for economic growth and development.

The LRA Commissioner General, Thabo Khasipe, said that tax expo was not only an event to discuss tax issues but a platform to grant taxpayers an opportunity to inform policy.
“Apart from tax collection, the authority is also responsible for advising the Minister of Finance for the formulation of fiscal policy,” Khasipe said.

Khasipe said in the midst of economic problems it is critical for stakeholders to come together and deliberate on issues that could inform budgeting and fiscal policy.
He said these engagements are also key for them as an entity as they are moving towards being service and client-oriented.
He said through the tireless efforts of all that the LRA was currently sitting just M10 million away from reaching its set target of M7.5 billion.

Lemohang Rakotsoane


Previous Slowdown hits vendors
Next New bid to disband MCC tender panel

Warning: count(): Parameter must be an array or an object that implements Countable in /home/thepostc/public_html/wp-content/themes/trendyblog-theme/includes/single/post-tags-categories.php on line 7

About author

You might also like


Phori in hot water

MASERU-FORMER Small Business Minister Chalane Phori is about to face the music for his alleged reckless talk in former Prime Minister Thomas Thabane’s defence. Phori irked the All Basotho Convention


Johnson & Johnson vaccines for Lesotho

MASERU-HEALTH Minister Semano Sekatle says Lesotho has paid a deposit of M25 million to buy 1.1 million Johnson & Johnson Covid-19 vaccines.The vaccines will be delivered early next month.Sekatle told


‘Potato’ murder shock villagers

BEREA – TO the people of Ha Tomo and Ha Lephoi in Teyateyaneng, Xian-Ping Chen (30) has always been an affable Chinese man who speaks Sesotho fluently and likes to