Speaking on the Lesotho Fiscal Policy and role of Taxation, Mokhethi Mabea, tax organisation project manager indicated that taxation is the major way of generating government revenue in order for the government to spend for the survival of the nation. He said different taxes like income tax, capital gains from investment, property and sales taxes legitimate formulate an administration. The budget proposal, Mr Mabea explained, is made every fiscal year in order to achieve fiscal stability and sustainability hence budget speeches, and the government of Lesotho strives to spent funds that it has budgeted for, in order to avoid financing its projects with public debt, while the budgetary policy provides guidelines to avoid deficit.
Dec. 6, 2018 2 min read
2 min read
MASERU – Lesotho Revenue Authority (LRA)’s two-day Tax Expo offered a bouquet of tax related issues to participants which included; Lesotho Fiscal Policy and the Role of Taxation, Base Erosion and Profit Shifting (BEPS), 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.