Adoption of Lakes state budget for 2007
By Manyang Mayom
Feb 15, 2007 (RUMBEK) — South Sudan Lakes State minister of Finance, Trade and Industry Lt. Col Philip Marol Mading stressed out that Southern Sudan Legislative Assembly and the Lakes State Legislation Assembly have finally approved the fiscal year 2007 for the government of Lakes State.
Philip added that, to execute this budget, the ministry of Finance, Trade and Industry therefore had requested all the state institutions and counties to submit their payrolls for the month of January 2007 to the budget and planning department and adjustment section in the directorate of Finance for verification and compliance with the new budget 2007.
The other important issues required to enable this ministry to perform its duties perfectly mainly include;
1. Annual finance report from each ministry and institutions. The ministries of finance, trade and industry have earlier on requested all the institutions to compile their annual financial report for the year 2006.
2. Implementation of the state taxation act, 2006. Some institutions and businesses have not implemented 5-10% personal Income tax (PIT) deductions and other taxes. The ministry reiterates that taxes are citizenry obligations as tax revenues are part overall budget funding. Failure to comply will eventually tantamount a serious offence as stipulated in the Lakes State taxation Act 2006.
3. Grouping segments and any expending must be made in compliance with the Lakes State approved budget 2007.
SALARY DELAY
The minister also said that adequate measures are adopted to avoid delay in transfers of salary from Juba to Rumbek, starting from February 2007.
“To avoid inconveniences caused by usual delay in transfers to states by Government of South Sudan (GOSS), the Lakes State Ministry of Finance, Trade and industry has made arrangements with the Nile Commercial Bank (NCB) authority to ensure that, there is sufficient liquidity on 25th of every month so that the Lakes State directorate of Finance would be able to release salaries to be paid on the 28-30th of every month.” He said.
(ST)