Tax expert urges govt to implement new tax regimes

Tax expert and Senior Associate at Ali-Nakyea and Associates, William Kofi Owusu Demitia, has urged the government to come up with new compliance rules for its tax regime to enable government raise the needed revenue to undertake developmental projects.

To Mr Demetia, there is the need for a change in ways government handles collection of taxes in Ghana in order not to burden Ghanaians.

Speaking in an interview on Asempa FM’s Ekosii Sen show after Finance Minister, Ken Ofori-Atta presented the 2020 budget, he explained the new tax compliance rules would cure the constant shortfall in tax revenue targets in Ghana.

“We must simply be able to put in place those mechanisms to raise the needed revenue for developments in Ghana. We will need a new tax compliance rule,” he said.

Mr Demetia added that the government must be able to digitise tax collection in Ghana to enable people identified as the small tax payers also contribute their quota to development.

“We now use Mobile Money to pay most bills in Ghana so we can use that for our taxes as well to make payment convenient for people,” he suggested.

SOURCE: Adomonline.com