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.
“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.”
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.
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.
Latest Stories
-
I had to put my career on hold for Kwaw Kese – Skonti
3 minutes -
Scrap 20% excise tax on sweetened beverages to support 24-hour economy, AGI urges gov’t
6 minutes -
Anloga residents rally behind Joseph Agbeko Kpogo for MCE position
10 minutes -
Big Chef Junior Season 4: Date for entries extended
23 minutes -
Akatsi North MP pays fees for 51 tertiary students in his constituency
28 minutes -
Teachers must sign a bond after being posted – Peter Attafuah
37 minutes -
Mahama to gov’t appointees: Declare your assets or face sanctions, including dismissal
58 minutes -
We need to de-politicise the school feeding programme – Kofi Asare
1 hour -
Calls grow for dedicated Public Health Funding amid disease outbreaks
1 hour -
Mahama submits his asset declaration form to Auditor-General
1 hour -
Crumbling Start: Teacher shortage at Sanonjiada D/A School forces untrained volunteers to step in
1 hour -
President of Ghana Insurers Association, Seth Aklasi appointed Ag. MD of Ghana Reinsurance Company
2 hours -
External borrowing: You can’t borrow more than $250m in 2025 – IMF to Ghana
2 hours -
27 lives lost to road accidents in two weeks, 42 injured – NRSA
2 hours -
Cedi continues strong performance against dollar, one dollar equals GH¢15.75
2 hours