‘Mantšali Phakoana
The Revenue Services Lesotho (RSL) held a successful engagement session with the textile manufacturing sector to foster collaboration on Friday in Maseru.
The meeting discussed taxation challenges facing the industry to enhance compliance.
According to a statement from RSL, the session discussed the industry’s compliance issues in customs, in areas such as registration and declarations, Pay As You Earn (PAYE), Value Added Tax (VAT) and Income Tax. The participants were also introduced to the RSL compliance model.
The parties also agreed to meet regularly to enhance collaboration.
Presenting on the RSL’s 2024-2027 Strategy, the Commissioner General, ‘Mathabo Mokoko said the textile manufacturing industry’s contribution to the tax net was crucial and their partnership would bolster ongoing efforts to rebuild Lesotho’s economy.
She added that through enhanced collaboration with the RSL, the textile manufacturing sector could take advantage of programmes such as the Authorized Economic Operator (AEO) to grow the industry.
For her part, the Lesotho Textile Exporters Association (LTEA), secretary general, ‘Malikhabiso Majara welcomed the move by the RSL to engage the sector, saying the initiative will enhance their compliance with tax laws.
She listed a number of challenges facing the industry as a constraint in their compliance with tax laws and urged the RSL to address them.
