A tax and economic analyst says although there was a need for the government to embark on a radical revenue mobilisation drive, we do not need new taxes or increase the rate of existing taxes.
Mr. Julius Gyimah explained that the new process where the GRA is using tax agentss to collect taxes is not efficient because these agents file the taxes collected.
”This means the collection, the filing and payment of the taxes is low.”
He said some persons are unable to generate the VAT invoice.
”We have the law, but the enforcement is our major challenge. The revenue mobilisation entails a lot, and they include revenue mobilisation, compliance, tax education, and the education should be effective people would be accountable in filing and paying their taxes with particular reference to VAT.”
He underscored the need for the government to block all loopholes in the system so it would save the state money.
He noted that Ghanaians are struggling and businesses are not expanding, and any attempt to introduce new taxes would be a nail in the coffin.
Ge stressed the need for the government to intensify tax education to encourage Ghanaians to be tax compliant.
One other thing he bemoaned that is affecting us is Ghana’s import-driving economy.
He expects the 2023 budget presentation to introduce measures to address these issues.
“We will not have a stable economy until Ghana becomes an export-driven country.” We will continue to import into the country, which will have an economic impact.”
By: Rainbowradioonline.com/Ghana
