Josiah
Dr. Mohammed Amin Adam, Ghana’s Finance Minister, has assured citizens that the government won’t impose additional tax burdens. Instead, it plans to take firm action against tax evaders and those who haven’t paid their dues.
Dr. Adam outlined the government’s approach during a press briefing on Saturday, April 13, following Ghana’s agreement with the International Monetary Fund (IMF) on the Extended Credit Facility (ECF) arrangement. He noted a revenue shortfall of GHS1.8 billion due to the removal of the GHS100 yearly fee on gasoline and diesel car owners and the 15% Value Added Tax (VAT) on electricity consumption.
The Minister stressed the government’s caution in not overburdening Ghanaian taxpayers while acknowledging the urgent need to raise revenue to implement the US$3 billion loan-support package. Thus, the government is steadfast in executing revenue-generating measures outlined in the 2023 and 2024 budgets that weren’t effectively implemented.
“We are resolute in collecting taxes from those who haven’t paid or have evaded taxes to bridge the revenue gap caused by the tax suspension,” Dr. Adam affirmed.
Furthermore, he highlighted efforts to revamp the tax administration system to ensure accurate assessments and prompt, convenient tax payments to the state.
