Maseru – On Wednesday 10 April, the Revenue Service Lesotho (RSL) revealed its revenue performance for the financial year ending March 31, 2024, showcasing a commendable 12.5% increase in revenue collection compared to the previous year.
However, this growth comes in the wake of missing the revenue target for the preceding financial year by 9.3%.Commissioner General Mrs. Mathabo Mokoko expressed satisfaction with the growth, stating, “Even in such turbulent times, the RSL grew its tax collections from the previous financial year by 12.5%. Thanks to all those of our taxpayers who were compliant, and to the initiatives taken by the RSL aimed at ensuring that revenue collection remained an integral part of RSL strategic priorities.”
The revenue performance was not without its challenges, as outlined by Mokoko. The economic environment proved to be one of the most challenging in recent times, with anticipated economic growth failing to materialize as projected.
Factors such as sluggish economic growth, limited impact from the construction sector, and inflationary pressures contributed to the revenue collection shortfall.
Despite these obstacles, RSL made significant strides in compliance culture, witnessing an increase in good compliance behavior among taxpayers. Mokoko acknowledged the efforts of compliant taxpayers, emphasizing the importance of tax compliance in enabling the government to provide essential services and infrastructure for its citizens.
Key highlights for the financial year included an increase in taxpayer registrations, particularly in agriculture, retail, and construction sectors, efforts to facilitate cross-border trade, and the implementation of online platforms for tax submissions and payments.
Again, RSL focused on enhancing data analytics capabilities and streamlined processes to improve efficiency.
“We acquired and implemented data management and business intelligence technologies through AIDB support. We pursued automatic sharing of data with our key stakeholders through integration of systems,” added Mokoko.
Looking ahead, RSL is optimistic about the implementation of its new strategy, LESOKOANA, aimed at addressing key issues and improving organizational performance.
The completion of restructuring exercises and ongoing tax modernization projects signal a commitment to enhancing revenue collection mechanisms.
As the tax filing season approaches, Mokoko urged all taxpayers to fulfill their civic responsibility by promptly filing their tax returns.
She emphasized that tax compliance is not only a legal obligation but also a crucial contribution to the welfare of Basotho, particularly the most vulnerable sectors of society.
Mokoko concluded by extending gratitude to taxpayers, law enforcement agencies, government ministries, strategic partners, and the RSL Board for their support and collaboration.
She reiterated the importance of paying taxes as a patriotic duty, emphasizing its role in nation-building and development.
