The Head of the Domestic Tax Revenue Division at the Ghana Revenue Authority (GRA), Mr Edward Apenteng Gyamerah, has said the country will generate about GH¢4 billion annually to fund public services with the introduction of three new taxes.
He refuted claims that the introduction of the three new tax acts would place an undue burden on businesses and individuals.
He made this statement at a public lecture on the introduction of the Three New tax Acts and their impact on Revenue Generation in Accra on Tuesday.
Mr Gyamerah added that the new Tax Acts would improve tax compliance in Ghana as it makes it easier for the GRA to collect taxes and enforce tax laws.
He stressed that the new tax acts were instituted to generate additional revenue for government to fund public services and reduce the country’s budget deficit.
He announced that the GRA has also rolled out some initiatives to expand the tax base and complement government’s efforts of mobilizing enough revenue for economic growth.
“Among them are the e-invoicing, VAT invigilation, upfront VAT at the port, mystery shopping, e-tax clearance compliance, rent tax, night market economy taxation, e-commerce taxation as well as the taxation on gaming and betting,” he stated.
According to him, these measures would help improve tax compliance and to increase tax revenue.
On the Unified Common Property Rate, Mr Gyamerah disclosed that the GRA was not the body collecting property rates but was rather exercising its mandate of assisting all Metropolitan, Municipal and District Assemblies (MMDAs) to mobilize revenue.
“The Authority helps MMDAs to identify and pursue property owners who are not paying their property taxes. This assistance to the MMDAs in collecting property rates is essential to ensuring that the MMDAs have the resources they need to provide essential services to the people of Ghana,” he added.
Parliament passed three revenue bills namely the Excise Duty Amendment Bill 2022, the Growth and Sustainability Levy Bill, 2022, the Ghana Revenue Authority Bill 2022 and the Income Tax Amendment Bill 2022 in March this year as part of efforts to recover the country from the current economic crisis.
Richard Aniagyei, ISD
