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

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.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

Africa’s richest man Aliko Dangote seeks to raise an additional $1.1 billion to complete his refinery project by 2023

Africa’s richest man Aliko Dangote seeks to raise an additional $1.1 billion to complete his refinery project by 2023

8 African countries where Rihanna plans to launch her luxury Fenty Beauty products

8 African countries where Rihanna plans to launch her luxury Fenty Beauty products

Africa’s richest man Aliko Dangote poised to overtake another Russian billionaire Vladimir Lisin on Bloomberg billionaires list

Africa’s richest man Aliko Dangote poised to overtake another Russian billionaire Vladimir Lisin on Bloomberg billionaires list

Mzee Kibor's will made public, revealing how vast wealth and millions will be distributed

Mzee Kibor's will made public, revealing how vast wealth and millions will be distributed

Ini Edo posts new photos amid reports of welcoming a baby through surrogacy

Ini Edo posts new photos amid reports of welcoming a baby through surrogacy

Haiwezi, my wife is prettier - Omanyala turns down Huddah’s advances

Haiwezi, my wife is prettier - Omanyala turns down Huddah’s advances

Here are the top 10 cities in Africa where the most rich people live

Here are the top 10 cities in Africa where the most rich people live

Referee behind chaos at AFCON was rushed to hospital after match

Referee behind chaos at AFCON was rushed to hospital after match

5 African countries with the cheapest gas prices in 2022

5 African countries with the cheapest gas prices in 2022