Economist, Professor Ebo Turkson, has urged government to block revenue leakages that have bedeviled the country’s revenue mobilisation system for ages.
Ghana loses more than GH¢5.6 billion annually in tax revenue.
According to the Economist, till government creates an environment that encourages tax payers to be tax-compliant, the country will continue to lose large volumes of revenue yearly.
He made this suggestion to offer alternatives to the government's move to introduce new tax measures as a means of reaching an IMF board approval for $3billion bailout.
Speaking on JoyNews’ PM Express Business Edition, he said “We need to build systems in place to ensure that we keep to the barest minimum the leakages that leave the revenue stream. And it’s very very important that we do this.”
Citing the situation at Ghana’s ports and habours, he stated that the use of various government agencies to collect taxes and invoices has created space for people to evade taxes rather than comply due to how complicated the system is.
He urged government to ramp up its digitalization drive to put all the tax and invoice requirement on a single government platform to ease business at the ports.
“For instance, the number of government agencies for instance at the ports that are collecting revenue for government, can we reduce the number of them and still getting more of these revenue. Because you see, the more you put in place some of these institutions and these taxes, the easier it is for people to evade those taxes for convenience. So let the process be so straightforward so that tax payers will comply easily so that it doesn’t waste their time,” he said.
Latest Stories
-
Expansion Drive: Takoradi Technical University increases faculties
4 hours -
SHS heads demand payment of outstanding funds before reopening of schools
5 hours -
We thank God for the 2024 general elections – Akufo-Addo
5 hours -
Coconut Grove Beach Resort marks 30 years of excellence with memorable 9 lessons & carols service
5 hours -
WAFU B U-17 Girls’ Cup: Black Maidens beat Nigeria on penalties to win inaugral tournament
6 hours -
Real Madrid beat Sevilla to keep pressure on leaders Atletico
7 hours -
Liverpool put six past Spurs to go four points clear
7 hours -
Manchester United lose 3-0 at home to Bournemouth yet again
7 hours -
CHAN 2024Q: ‘It’s still an open game’ – Didi on Ghana’s draw with Nigeria
7 hours -
CHAN 2024Q: Ghana’s Black Galaxies held by Nigeria in first-leg tie
8 hours -
Dr Nduom hopeful defunct GN bank will be restored under Mahama administration
9 hours -
Bridget Bonnie celebrates NDC Victory, champions hope for women and youth
9 hours -
Shamima Muslim urges youth to lead Ghana’s renewal at 18Plus4NDC anniversary
10 hours -
Akufo-Addo condemns post-election violence, blames NDC
10 hours -
DAMC, Free Food Company, to distribute 10,000 packs of food to street kids
11 hours