National tax policy needed – Chartered Institute of Taxation

The Chartered Institute of Taxation, Ghana (CITG), has called for the development of a comprehensive national tax policy that would protect the country’s tax system from being subject to the whims of successive governments.

This proposal will ensure continuity, stability, and predictability in the nation’s fiscal landscape.

Speaking to the media on the sidelines of the 12th Annual International Tax Conference, President of the Chartered Institute of Taxation, Ghana, George Ohene Kwatia emphasised that Ghana’s tax policies have often been subject to significant changes whenever a new political party assumes power.

These alterations according to him, disrupt the continuity of fiscal policies and do not bode well for the country as it has the potential of distorting the development agenda.

He stressed that a national policy on taxation will deal with constant debates between political parties on nuisance taxes or relevant taxes.

“Everything is premised on whether we have a true national tax policy. If you have a true national tax policy, that national tax policy will drive the tax agenda and hence if it is something that we put in place and every government has to respect it, we will not get changes in our tax regimes based on the whims of any given or new government.

“I will say the real issue is the lack of a proper national tax policy. Today, party A comes into power and they feel this is the way to go and this is the way I can promise the people to win the elections and then next time Party A is not in power…party B comes and says these taxes were just chosen or implemented or done away with just for political reasons and therefore I am reintroducing or I am bringing fresh ones and those kinds of things and that is where the problem is.

“But if we really had a policy, driven on the national lines and acceptable as our national tax policy, we will all tow that same line and we will not be having these discrepancies or differences,” George Ohene Kwatia said

Source:pushnewsonline.com