Gambia: “I Paid Over 9 Million Dalasis In Capital Gain Tax,” Amadou Samba Tells Janneh Commission

  

In his testimony regarding GamPetroleum today at the Janneh commission, Gambian tycoon Mr Amadou Samba said that he paid D9, 434, 250.00 in capital gain tax following the sale of his shares to the government. 

He told the commission that he is no longer a shareholder at Gampetroleum, as he had already sold his shares to the Gambia government, when the government requested for his shares to enable them to have controlling shares in the company. He added that initially he owned about 9 % shares. Government decided to buy him off because they said that Gampetroleum is a strategic company to the country. He said that it was because of his civil work, providing basalt and other materials, that he was given shares in the company.

He added that he had a meeting with the government who was represented by Mr Kebba Touray who was the finance minister at the time, the governor of the Central Bank, Gambia Ports Authority and  Social Security. He said he sold his shares to the Gambia government at book value. The value was determined by Deloitte and Touche.

According to him, the shareholding of the company was distributed as follows: Social Security 31%, GPA 10%, GNPC 7%, Amadou Samba 10%, Bazzi 31.5% and Fadhi 10%. When he sold his shares, government then had the controlling shares.

He then tendered the necessary documents showing the share worth and the amount of money he paid in capital gain tax, which were entered in evidence. He added that he contracted an independent audit firm Deloitte and Touche to do the evaluation and mathematics for him. After that he paid his taxes in full.

It would be recalled that Mr Samba had testified previously that he never got into trouble with Yahya Jammeh because he always paid all his taxes in full and on time, so much so that he was decorated by the Gambia Revenue Authority.

On the other hand, it would also be recalled that the chairman of the commission of inquiry Saharata Janneh and the lead counsel to the commission Mrs Amie Bensuoda  are notorious tax dodgers, who were indicted by the Mama Singateh Tax Commission in 2013 for evading tax to the tune of one million dalasis and six million dalasis respectively.

Source : Freedomnewspaper

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