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Gambia News : The Gambia’s Tax Burden Can Scare Investors
Mr. Cherno Jallow, a Queen’s Counsel at the shVirgin Island believed that the kind of tax that The Gambia levies on businesses can scare-away serious investors.
Speaking at the event of the Bar Week under the theme “Legal Practice in the Gambia: Opportunities for Growth and Development,” Mr. Jallow said foreign investors want to invest where tax policies are realistic and reliable.
However, he said, “a jurisdiction that regularly changes its tax policies and laws especially when changes are not subjected to prior public consultation and debate, risks shutting its doors to serious and high net-worth investors.
He added: “when you over-burden businesses with high tax, you risk narrowing your tax base.” He noted that any proposal to widen the business base must address taxation.
Continuing with his presentation, Jallow said a robust and independent judiciary that upholds the law to all manner of persons, including government, is also needed to lure investors.
As he put it: “At the end of the day, serious investors want to be assured in the unlikely event of any litigation in any jurisdiction, they would receive fair treatment”.
He further recommended for an independent public prosecution. The Department of Public Prosecution he added, must be divorced from the office of the Attorney General. Jallow argued that democratic governance is also needed for growth and advancement of the country.
This, he said must not mean the prevalence of free and fair elections; rather, he said, the government must be the first respecter of the laws of the country. According to him, government’s adherence to the law re-assures investors and injects confidence in them.
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- i really support mr jallow, because the gambia should try all means to convince both the foreign and the local investors. they should be given all support and help to help us gain more investors.
(Posted on December 9, 2010, 9:29 PM ESSA)
- Oh Gambia, don't make the same mistake as Zimbabwe, British Colonisation, Lebanese or Chinese...Its all the same!
(Posted on August 20, 2010, 8:21 PM King Solomon)
- laybato is mine now you stupid english man you can do nothing and my country will do nothing so stay in uk and shut up more stupid pepole will come and invest like you did you big fool
(Posted on March 26, 2010, 8:59 AM SEIKO DEMBA)
- like david norris the man who invested six million dalasi and his family got nothing i went two court 15 times this seiko demba never went once is that a good sign two invest in gambia the president needs two take a look at his courts
(Posted on March 26, 2010, 8:47 AM robert radcliffe)
- is this the same seiko demba that killed david norris and marina radcliffe for your own gain shame on you one day some one will knock on your door you will then pay for your crimes mile two or the bush
(Posted on March 26, 2010, 8:37 AM robert radcliffe)
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