Mr Samuel Sakyi Duodu, Kumasi Area Manager of the Ghana Revenue Authority (GRA), has stressed the need for effective collaboration between the private sector and Civil Society Organizations (CSO) to promote tax compliance.
The partnership, he said, would help increase tax collection and improve the tax ratio on the Gross Domestic Product (GDP) from the current 13 per cent to 30 percent.
Speaking at a multi-stakeholder business integrity forum in Kumasi, Ashanti region, Mr Duodu said the effective collaboration would also help reduce tax evasion, prevent money laundering and other serious financial crimes to the barest minimum.
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The forum was organised by the Ghana Integrity Initiative (GII), the National Chapter of Transparency International, under the theme ‘Promoting Transparency in Tax Compliance for Development: The role of the Private Sector.’
Participants included CSOs, Small and Medium Scale Enterprises (SMEs).
It aimed at creating a platform for discussions on tax solutions, promoting a conducive environment for transparency and accountability in tax compliance.
According to Mrs Linda Ofori Kwafo, Executive Director of GII, the main reasons for paying taxes were for the government to generate revenue, for the provision of goods and services, and address poverty and inequalities.
She stressed the need for tax administrators to ensure that the right amount of taxes was collected and at the right time.
Again, she said corruption in tax administration did not only lower the tax GDP ratio but also caused long term damage to the economy by increasing the size of the underground economy.
Madam Mary Addah, Programmes Manager of GII, said the Transparency International defines corruption as the abuse of entrusted power for political gains.
There must be a proactive approach to prevent corruption from happening in the institutions and offices of tax administration.
Source: goldstreetbusiness.com