Audio By Carbonatix
The Finance Ministry has rejected criticisms that it is not being innovative enough in mobilizing tax revenue.
The criticisms have come on the back of the 2011 budget which is proposing an increase in taxes and tariffs and introdicing new ones.
Critics such as policy think tank the Institute of Economic Affairs believe the government is continuing to fall heavily on the few in the formal sector and needs to do more to expand the tax net to capture the informal sector.
But Director of Budget, Patrick Kyei disagrees.
He told Joy Business the ministry is already working to identify persons in the informal sector so it can capture them for tax purposes.
He said given the structure of the informal sector, “we need to properly identify the people in the informal sector to be able to tax them so it is not [that] we are refusing to tax the people except that certain things need to be put in place for proper identification before we can actually spread the tax net.”
Source: Joy Business/Ghana
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
-
Samson’s Take: When religion threatens peace, sanity must prevail
8 minutes -
Friendship: Why time matters less than continuity
17 minutes -
Africa’s AI moment: They say data is the new gold. But who is drilling it?
18 minutes -
Ghana delivers strong performance in retail market in half-year; value up 15.6% – Maverick Research
24 minutes -
The world’s oldest president left for a ‘brief stay’ in Europe. He hasn’t returned in two months
41 minutes -
Parliamentary committee commends GIPA’s investment drive, backs key reforms
46 minutes -
Livestream: Newsfile discusses AKSA energy deal, legal vacation and GoldBod losses
1 hour -
Jason Arday: 10 things you may not know about British-born Ghanaian former Cambridge professor found dead at 41
3 hours -
KNUST partners with government to manufacture locally-made agricultural machines and smart traffic lights
4 hours -
Government to add constitutional referendum to 2027 District Assembly elections
4 hours -
Ambassador Nancy Sam meets South Africa’s Thanda to strengthen Africa tourism collaboration
5 hours -
Government disburses GH¢23.1 billion to clear road contractors’ arrears – Roads Minister
5 hours -
NPP Ashanti elections: 1,020 delegates to choose 11 regional executives
6 hours -
Galamsey: ‘Challenge is prosecution, not arrest’ — Lands Minister
7 hours -
Elliot Kabutey Tei outlines strategic blueprint to drive NPP victory in Tema East
7 hours