We can raise revenue without increasing taxes – Ato Forson
Dr Cassiel Ato Forson, the Finance Minister-designate, has outlined his vision to raise revenue without resorting to tax increases, emphasising a focus on improving compliance.
Dr Cassiel Ato Forson, the Finance Minister-designate, has outlined his vision to raise revenue without resorting to tax increases, emphasising a focus on improving compliance.
Appearing before the Appointments Committee of Parliament, Dr Forson pledged to collaborate with the Ghana Revenue Authority (GRA) to strengthen tax collection systems and enhance efficiency.
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“We don’t necessarily need to increase taxes to rake in revenue,” Dr Forson asserted. “We have the handles, and I will work with the GRA to ensure we take in the needed revenue by increasing compliance.”
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He expressed confidence that this approach would improve Ghana’s tax-to-GDP ratio, which currently stands at 13%, and increase it to 16%, aligning with the nation’s development goals.
Dr Forson also reaffirmed the government’s commitment to reducing the tax burden on Ghanaians, promising to review and scrap certain taxes where necessary.
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This, he explained, would provide relief to citizens and businesses while ensuring a fairer and more equitable tax system that fosters economic growth.
As the Finance Minister-designate, Dr Forson emphasised the need for a balance between revenue mobilisation and fostering a conducive environment for economic activity.
His proposed strategies, he noted, aim to support national development while addressing pressing fiscal challenges without overburdening taxpayers.
Source: myjoyonline.com
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