Finance Minister-Designate, Dr. Cassiel Ato Forson says the government can increase its revenue generation without necessarily increasing taxes.
He indicated that a few people within the tax net pay their taxes religiously, hence the inability of the state to generate the required revenue needed to run its affairs.
Dr. Ato Forson during his vetting motioned that if he is approved as Minister of Finance, he will ensure compliance amongst the people already captured in the tax net.
With efficient and effective collaboration between the Ghana Revenue Authority and the Tax Policy Unity at the Ministry of Finance, Dr. Ato Forson promised to raise revenue from 13.8 to 16 percent.
“You don’t necessary have to increase taxes before you rake in revenue, we have the handles so what we need to do is to improve compliance. I will work with the GRA, tax policy unity of the Ministry of Finance to increase compliance and raise the revenue as much as we can.”
Dr. Ato Forson added that he has studied the Ghanaian economy over the years and strongly believes that it has the potential to grow in terms of revenue mobilization.
“Ghana collects approximately 13.8 percent of GDP in terms of tax revenue according to the latest data I have sighted as a member of the transition team. It is obvious that we can do better. I’ve studied the Ghana economy for some time and I can say that we have a huge potential when it comes to tax revenue mobilization.”
