Gov't committed to reducing inefficiencies, enhancing tax compliance- Osei-Asare
According to her, this aligns with the Medium-Term Revenue Strategy laid out by the ministry.
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The Minister of State at the Ministry of Finance, Abena Osei-Asare, has reaffirmed the government's commitment to improving tax compliance and addressing inefficiencies within the country's tax system.
According to her, this aligns with the Medium-Term Revenue Strategy laid out by the ministry.
She said this in an address delivered at the opening of the 12th Annual International Tax Conference in Accra.
This is in connection with reports that the government might consider reintroducing a 15 percent VAT on electricity if disinflation trends continue.
The two-day event, organized by the Chartered Institute of Taxation Ghana (CITG), was themed ‘Balancing Tax Policy and Private Sector Development.’ It served as a platform for advancing knowledge, fostering collaboration, and shaping the future of taxation and revenue mobilization.
The conference saw participation from both local and international attendees, including government officials, policymakers, CEOs, finance directors, academics, tax practitioners, administrators, and business executives.
Osei-Asare highlighted that the government's efforts to enhance tax compliance and reduce inefficiencies would primarily focus on improving the collection of Value Added Tax (VAT) and excise duties, among other revenue-generating measures.
This approach, she noted, aims to boost the nation’s tax revenue for economic growth.
On her part, the Commissioner-General of the Ghana Revenue Authority (GRA), Julie Essiam, emphasized the importance of flexible tax policies that promote both revenue growth and private sector development.
She advocated for policies that are straightforward and easily understood by all, and for addressing issues related to tax evasion.
Also, the President of the CITG, George Ohene Kwatia, called for prioritizing capacity-building initiatives for tax professionals, leveraging technology to streamline tax administration, and addressing legislative inconsistencies to create a more coherent tax framework.
