Tax consultant Francis Timore Boi has urged the Ghana Revenue Authority (GRA) to step up tax education efforts within the informal sector as part of measures to boost revenue mobilization.
His call follows a recent World Bank warning that Ghana’s weak revenue generation poses a significant threat to the country’s anticipated economic recovery beginning next year.
Speaking to Joy Business, Mr. Timore Boi acknowledged ongoing GRA initiatives but stressed the need for a more deliberate strategy, particularly in educating small business operators.
“The modified taxation is targeted at the informal sector. These are people who traditionally may not understand tax compliance overnight. So, more education is needed before enforcement can be effective,” he explained.
He noted that the recent delay in implementing VAT reforms to 2026 would affect revenue streams, making it even more critical for the GRA to focus on expanding the tax net.
According to him, the informal sector, which accounts for nearly 80% of businesses in Ghana, holds immense potential for boosting domestic revenue if effectively engaged.
Mr. Timore Boi emphasized that a combination of education and enforcement would be key to helping the GRA meet its revenue targets and reduce Ghana’s reliance on external borrowing.
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