EconomyFeatured

Mid –Year Budget review to focus on domestic revenue mobilization—Finance Minister

The Finance Minister, Ken Ofori-Atta has disclosed that the mid-year budget review which will be presented to parliament later this month will focus on improving domestic revenue mobilization.

Already, the Finance Minister has hinted that government will review the Luxury vehicle Tax in the mid-year budget.

Speaking at a press conference Mr. Ofori-Atta explained that compliance in tax collection must be improved for government’s social intervention programmes to be sustainable.

ALSO READ: 2019 budget: Ghana records $1.1bn trade surplus, first in 20 yrs

“I have an issue about compliance to be able to raise. I think that is going to be something that is very important. We are now currently doing about 12.6 percent revenue to GDP. Peer group countries are doing about 19 percent so you see the can see the gap”

Mr. Ofori-Atta added that the budget will also explore new ways to expand the tax net to improve revenue collection.

Touching on the need to improve tax collection, Mr Ofori-Atta stated that Ghanaians must pay their taxes to enable government to continue with its programmes aimed at poverty alleviation.

Show More

Related Articles

Back to top button