Audio By Carbonatix
The Association of Ghana Industries (AGI) on Thursday, called for the appointment of a Commissioner General who would have an oversight responsibility over the commissioners of revenue agencies to facilitate the activities of the Large Taxpayers Unit (LTU).
The association further called for the integration of the various government agencies, namely the Internal Revenue Service, Value Added Tax and the Customs, Excise and Preventive Service, so that they could have a common database.
These formed part of recommendations of the AGI policy document on growth-oriented tax reform in Ghana, which is to be submitted to government.
Presenting the policy recommendations in Accra, Mr George Kwatia, Tax Director of PricewaterhouseCoopers (PwC), further recommended the abolition of VAT and import duties on raw materials, packaging and computerization of all revenue agencies.
He noted that there was very limited computerized integration of Government agencies and limited co-operation among them.
These, he said, had resulted in the duplication of information and unclear understanding of the taxpayer on issues of tax compliance.
"Various bureaucratic processes are hampering the tax payment system making it difficult for taxpayers to comply with their statutory requirements," he added.
This, he noted, provided greater opportunities for non-registered taxpayers to escape the tax net.
According to him, the withholding tax system was a major deterrent to individuals and companies which wished to enter the tax net.
On elimination of pre-production taxes, Mr Kwatia said the tax, such as VAT and import duties were currently imposed on raw materials and packaging materials.
"These duties present an additional tax and cash flow burden on local manufacturers thereby giving them an unfair playing field since they have to compete with free zone entities, which are exempted from these duties in the local markets."
According to him although the government would be assured of its revenue, the AGI would monitor the process with regard to its members to ensure that the deferral of the VAT payment did not result in an abuse.
Mr Tony Oteng-Gyasi, President of AGI, commended the German Technical Co-operation and the PwC for their support in putting the proposal together after various stakeholders' meeting.
Certificates were awarded to various companies for sponsoring the AGI Business Climate Survey (BCS) 2007.
Source: GNA
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Ghana’s public debt declined to GH¢644.6bn in November 2025
2 hours -
Cedi depreciates 4.0% to dollar in January 2026 – BoG
3 hours -
Ga Mantse calls for inclusion of Ga and Dangme within the national education system
3 hours -
Economic gains rooted in past policies, current gov’t yet to make impact – Stephen Amoah
3 hours -
UTAG-KNUST backs call for removal of GTEC Director-General, Deputy over incompetence
4 hours -
Every cedi lost to corruption is a blow to national development – Deputy Finance Minister tells Customs officers
4 hours -
Rubber farmers reject ANRAG’s claim to represent industry
4 hours -
Ghana, Pakistan advance trade, visa waiver talks at first Political Consultations
4 hours -
Media General condemns alleged military assault on journalist
4 hours -
Hon. Emelia Arthur: The Woman Revolutionising Ghana’s Fisheries Sector
4 hours -
Ghana begins construction of Volivo Bridge with JICA support
4 hours -
Chinese Ambassador bids farewell to President Mahama
5 hours -
Gov’t to issue IShowSpeed a Ghanaian passport
5 hours -
Five planned locations IShowSpeed missed during his Ghana tour
5 hours -
Why isn’t Minority talking about Ofori-Atta? – NDC MP asks over accountability presser
5 hours
