Finance Minister-designate, Dr. Cassiel Ato Forson, has outlined plans to increase government revenue without raising taxes, focusing instead on improving tax compliance.

Appearing before the Appointments Committee of Parliament, Dr. Forson highlighted his intention to work closely with the Ghana Revenue Authority (GRA) to enhance tax collection efficiency.

“We don’t necessarily need to raise taxes to generate more revenue,” Dr. Forson said. “We have the mechanisms in place, and I will collaborate with the GRA to boost compliance and ensure the needed revenue is collected.”

Dr. Forson expressed confidence that this strategy would improve Ghana’s tax-to-GDP ratio, currently at 13%, with the aim of raising it to 16% in line with the country’s development goals.

He also reiterated the government’s commitment to easing the tax burden on citizens and businesses, promising to review and eliminate certain taxes where appropriate.

Dr. Forson stressed the importance of striking a balance between revenue generation and creating an environment conducive to economic growth, aiming to address fiscal challenges while avoiding undue strain on taxpayers.

Source:TheDotNews