A Ghanaian tax expert wants the government to formulate new tax compliance rules for increased revenue

July 19, 2019 6:49 PM

A tax expert and Senior Associate at Ali-Nakyea & Associates, William Kofi Owusu Demitia, has called on the government to develop new compliance rules for its tax regime.

Finance Minister, Ken Ofori-Atta

Speaking on Accra-based Joy FM, he argued that this move will help the government raise the needed revenue to undertake its development projects.

His call comes at a time when the government is struggling to meet its revenue targets most of which is derived from taxes and levies.

“The facts tell us that the government has not met its revenue targets for the first quarter. We don’t have the full data for the second quarter but it appears that those targets may have been missed as well.

“What it simply tells us is that mechanisms we put in place to raise the needed revenue are not working as efficiently as we thought we would,” he added.

Mr Owusu Demitia made this comment ahead of the Mid-Year Budget Review and Supplementary Budget presentation in Parliament. This has been scheduled for Monday.

He said the proposed new tax compliance rules would help ensure that the constant shortfall in tax revenue targets is resolved.