• Sat. Nov 26th, 2022

Communal administrators and accountants are made aware of the 2022-2023 finance law

ByWebmaster

Sep 25, 2022

GITEGA September 19th (ABP) – The Ministry of Finance, Budget and Economic Planning through its General Directorate of Budget and Fiscal Policy, on Thursday September 15, 2022 organized in Gitega (central Burundi), a popularization of the 2022-2023 finance law, for communal administrators and accountants of all communes in Gitega, Karusi, Muramvya and Mwaro provinces.

In his speech, the Director General in charge of Budget and Tax Policy in that ministry, Mr. Dominique Ndayishimiye, said that the national budget 2022/2023 was prepared at a time when there is a slack in the fight against the pandemic of Covid-19 everywhere in Burundi. He pointed out that, however, the Burundians continue to go about their daily activities with complete peace of mind, which, according to him, will boost the growth of the national economy and control of the impact of covid-19 on the economy and public finances in particular.

According to the Director General in charge of Budget and Tax Policy at the Ministry of Finance, the resources of the general state budget including capital donations increase from BIF 1,562.06 billion in 2021-2022 to 2,194.8 billion, an increase of 40.5%. He added that the 2022-2023 State budget will see a 44.5% increase in tax revenue excluding exemptions, i.e., 1,562.9 billion Burundian francs against 1,081.8 billion the previous year and an increase of 83.4% of non-tax revenue, i.e., 206.1 billion against 112.4 billion for 2021-2022. Capital donations on a cash basis planned for this financial year of which 333.9 billion.

He pointed out that the government of Burundi has taken the initiative to increase domestic resources by strengthening the collection of taxes on mining sector activities, by taking measures to reduce the informal sector through local taxation, by applying rigorously the law concerning dividends to be paid to the State.

There is also the revision of texts and the procedure for granting exemptions, the improvement of revenue collection tools, the computerization of all OBR services, the rigorous monitoring of VAT refunds, the strengthening mechanisms to fight corruption, fraud and smuggling; improvement of mechanisms for broadening the tax base in accordance with the new laws on tax procedures, income tax and the VAT law etc.

He also pointed out that the 2022-2023 State budget placed particular emphasis on financing the increase in agro-pastoral production through the subsidy of organo-mineral fertilizers and the production of selected seeds, the program restocking of the cattle herd in favor of the people grouped in agro-pastoral cooperatives. According to him, that budget has indeed highly favored the construction of the Uvinza-Malagarazi-Musongati-Gitega railway and the digitalization of public services. That budget also coincides with the implementation of the fair wage policy in the public sector.

Note that State expenditure for this fiscal year is divided into current expenditure, i.e., BIF 1,204.5 billion, and capital expenditure, i.e., BIF 1,187.7 billion. It should also be noted that the financing of the deficit which makes it possible to balance the general budget of the State 2022-2023 is 197.4 billion against 151.8 billion BIF in 2021-2022.