Ghana’s efforts to boost government revenue by increasing tax compliance will be mapped out in a forthcoming report to be published by the global publishing, research and consultancy firm
Oxford Business Group (OBG).
The Report: Ghana 2014 will chart the country’s impressive growth story, which is now benefiting from an expanding internal market. It will also highlight the financial incentives and initiatives which are being introduced as part of a broader bid to encourage lending to small businesses.
OBG has signed a Memorandum of Understanding (MOU) on research facilities for a fourth consecutive year with Deloitte Ghana. Under the MOU, OBG will have access to the firm’s expertise and research resources, which will be used to compile the Tax Chapter of The Report: Ghana 2014.
OBG’s Country Director, Aicha Bachir, said she was delighted that the Group would once again benefit from Deloitte’s in-depth knowledge of Ghana’s changing tax environment.
“Deloitte has made a valuable contribution to the Group’s research on Ghana’s economy during our time here and is a major participant in the government’s drive to improve tax compliance,” she said. “I look forward to teaming up with its experts for our new project and exploring what the country’s new regulatory regime
means for investors.”
Felix Nana Sackey, Senior Partner at Deloitte, said the firm’s research would look in detail at the implications for businesses of Ghana’s move to boost tax revenues, alongside topical issues, such as transfer pricing regulations (TPRs) and the recent changes to value-added tax (VAT).
“We will also consider the impact that overall macroeconomic performance can have on tax revenue collection since, when companies are struggling with key indicators, be it a depreciating currency or high electricity tariffs due to insufficient gas supply, it becomes very difficult for them to comply with the tax burden,” he said.
“With so much change in the pipeline, both regulatory and cultural, I’m confident that Oxford Business Group’s forthcoming report will prove a valuable tool to businesses and I look forward to once again playing a part in its compilation.”
The Report: Ghana 2014 will be a vital guide to the many facets of the country, including its macroeconomics, infrastructure, banking and other sectoral developments. The publication will be available in print or online.