Tag: Revenue Mobilisation
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RACE to help increase tax-to-GDP ratio to 20% – Oppong Nkrumah
Information Minister, Kojo Oppong Nkrumah, says the newly-launched Revenue Assurance and Compliance Enforcement (RACE) initiative is expected to increase Ghana’s revenue mobilization ratio to 20% of Ghana’s Gross Domestic Product. Ghana’s tax to GDP has, over the years, performed lower than the current average percentage in Sub-Saharan Africa. Currently, the country is doing a tax…
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ISSER reiterates need for assessment of newly introduced taxes
The Institute for Statistical, Social and Economic Research (ISSER) has called for a critical assessment of the new taxes imposed on the country in the early part of this year. The government, as part of its revenue mobilization drive, introduced some levies and taxes in the 2021 budget, a move many criticized. The taxes include…
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Intensify tax compliance efforts to increase revenue – Prof. Bokpin
An economist and Professor with the University of Ghana Business School, Professor Godfred Bokpin is urging government to intensify its tax compliance efforts in its quest to increase revenue mobilization in the country. According to him, this will enable government generate more revenue and enable it raise funds for key infrastructure projects thereby leading to…
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Gov’t urged to deploy technology in slapping spot fines on traffic offenders
Chief Executive Officer and co-founder of AppsNMobile Technology Software Development Company, Richard Bansah, is urging government to consider deploying technology in the administration of spot fines to generate enough from wayward road users. Speaking on the Business Edition on the Citi Breaksfast Show, Mr. Bansah said there is huge revenue to be made from indiscipline…
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Government likely to miss its GH¢57.7 billion revenue target — Kweku Kwarteng
Government is lagging behind its annual revenue target of GH¢57.7 billion cedis, the Finance Ministry has revealed. The government was unable to meet its target for the first quarter of this year mobilizing a little over GH¢10 billion which is about GH¢2 billion short of its GH¢12 billion target for the first three months of…
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Ghana Revenue Authority announces changes at top management
The Commissioner-General of the Ghana Revenue Authority, Kofi Nti, has announced a massive change of guard at its top management. According to an internal communication to staff of the tax-collecting agency, three commissioners have been reassigned to the Ministry of Finance “with immediate effect”. They are Commissioner for Domestic Tax Revenue Division, Kwasi Gyimah Asante;…
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Formal sector will no longer bear tax burden of the informal sector – Ofori-Atta
Finance Minister Ken Ofori-Atta has stated the formal sector can no longer shoulder the tax burden of the informal sector, announcing that government is planning a raft of reforms to broaden the tax base. According to Mr. Ofori-Atta, the revenue authority has over the years neglected the informal sector in their revenue mobilization drive while…