Finance Minister, Dr. Mohammed Amin Adam has revealed the government’s intention to ‘use the hard way’ to collect revenue from those who have not been paying the appropriate taxes and tax evaders in the country.
Dr Amin Adam said this during a press briefing on Saturday, April 13, after Ghana acquired a staff-level agreement with the International Monetary Fund (IMF) on the country’s Extended Credit Facility (ECF) arrangement.
He underscored the urgent need to increase revenue in line with the implementation of the US$3 billion loan-support programme, with the government also careful not to burden the few Ghanaian taxpayers.
As such, the government would be resolute in ensuring the effective implementation of revenue generation mechanisms announced, both in the 2023 and 2024 budgets, but lacked effective implementation.
“Now, we’re determined to go out there and collect the taxes from those who have not been paying and those who have been evading taxes… to generate the desired revenue to fill the gap created as a result of the suspension of the taxes,” he said.
Adding up, he revealed that aggressive revenue mobilisation alone, would not be an ideal situation for the country, therefore, there would be a focus on expenditure rationalisation too.
Dr Amin Adam said the government is aware of the pains that Ghanaians, individuals and businesses alike, had to endure as a result of the implementation of reforms under the ongoing IMF loan-support programme.
While lauding Ghanaians for the sacrifices made since the implementation of the programme in May 2023, he encouraged them to continue to remain patient and sacrificial.
Dr Amin Adam also stated that the government was pursuing reforms within the tax administration to ensure that proper assessments were done, and people made to pay the appropriate taxes to the state in the easiest and fastest ways possible.
“Some of the reforms that we’re implementing are biting, but I know that we’ll persevere and lead together, and ensure that the benefits of the fiscal consolidation will bring significant relief to the people of Ghana so that we can be counted once again as one of the fastest growing in the world,” he said.
Meanwhile, Ms Julie Essiam, the Commissioner-General of the Ghana Revenue Authority (GRA), provided further details on the alternative revenue mobilisation efforts to fill in the GHS1.8bn revenue gap created by the suspension of two tax handles.
She said that the Commission had intensified efforts to ensure the effective implementation of compliance measures on the foreign income of resident Ghanaians in the country.
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Source: Comfort Sweety Hayford/ATFMNEWS
