Tax Companion at PwC Ghana, Abeiku Gyan-Quansah, has emphasised the necessity for a well-structured tax administration system to make sure the efficient implementation of the 2025 Price range.
Talking on the JoyBusiness Financial Dialogue, Mr. Gyan-Quansah highlighted that whereas the federal government’s choice to abolish sure taxes such because the e-levy and betting tax might supply aid to companies and people, it additionally requires stricter enforcement measures to maintain income era.
“Authorities says, ‘I’ll scrap all these items,’ however as a result of we’re a small financial system relative to the world, having a tax coverage is just not adequate. You want a tax administration. And really, I’m of the varsity of thought that the effectiveness of your tax coverage is definitely tax administration,” he acknowledged.
He additional famous that the Ghana Income Authority (GRA) should take a proactive position in making certain compliance. “If authorities passes these legal guidelines and the GRA doesn’t act effectively sufficient, they are going to simply stay on our statute books, and no one would actually thoughts. So authorities is saying, ‘I’m scrapping this, however those that will not be compliant, I’ll get them to be.’”
With Ghana looking for to stability financial progress and income mobilization, tax specialists argue that efficient enforcement mechanisms can be essential to stopping income losses and making certain that the nation’s fiscal insurance policies obtain their supposed affect.
The JoyBusiness Financial Dialogue was on the theme, “Fixing The Fundamentals” Is the 2025 Price range Ghana’s Final Shot at Fiscal Redemption?
DISCLAIMER: The Views, Feedback, Opinions, Contributions and Statements made by Readers and Contributors on this platform don’t essentially symbolize the views or coverage of Multimedia Group Restricted.
Source link
