MASERU – First Tax Expo dubbed Lekhetho Khotla, whose objective is to provide a platform for all stakeholders and clients to exchange ideas and make inputs in to the tax policy formulation and administration, kicked off in Maseru on Tuesday.
business
Dec. 6, 2018
KABELO MASOABI
2 min read
LRA launches first tax expo
Hosted by Lesotho Revenue Authority (LRA) the expo is reported to be aiming to unlock the potential of tax policy and administration as drivers of economic growth and development. “Lekhetho Khotla will also provide a platform for discussions on the current regional economic challenges manifested by volatile and generally declining SACU (Southern African Customs Union) revenues, underscoring the need for Lesotho to strengthen its capacity on domestic resource mobilization initiatives to finance government expenditure,” chairman of LRA board Robert Likhang set out.
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He presented: “This is a maiden tax expo - Lekhetho Khotla, and it is not a once off event. To that end, the authority deemed it fit to arrange an annual tax expo Lekhetho Khotla wherein all relevant stakeholders can share their views on how both tax administration, tax policy and tax laws could be leveraged as instruments of economic development.” Scheduled at the beginning of the annual fiscal planning cycle, Mr Likhang stated that the expo sought to enable a conversation that will inform the authority’s advice to the finance ministry as the ministry decides on its tax policy priorities in the next year. “Moreover, the conversation will also provide the authority itself with feedback on how it discharges the tax administration function that it has been entrusted with, which includes suggesting appropriate legislative amendments.”
“This year, the main focus of the expo is on the role of taxation in tackling Lesotho’s current economic development challenges. Above and beyond financing the government’s fiscal budget through both domestic and frontier resource mobilization, taxes are also effective instruments of economic policy,” he noted. In attendance to a two-day tax expo are cabinet ministers and their deputies, heads of diplomatic missions, international organisations, judges, principal secretaries, other senior government officials and business persons, among others.