Business News of Thursday, 10 December 2015
Commissioner General of the Ghana Revenue Authority, George Blankson, has reiterated calls for voluntary tax compliance in the country.
According to him, this will increase the amount of taxes collected by the authority as more resources will be directed at clamping down on defaulting tax payers.
The GRA boss’s comments come on the back of concerns over the lack of an effective voluntary tax compliance regime in Ghana.
George Blankson was speaking at the launch of the New Income Tax Act 2015 (Act 896) here in Accra.
“The paramount objective of any tax administration is to encourage, facilitate, attain and maintain a high degree of self-assessment and voluntary compliance by taxpayers with their tax obligations. A high degree of voluntary compliance in any country allows the tax administration to concentrate its resources on identifying and dealing effectively with those taxpayers who fail to fully comply with their tax obligations,” George Blankson stated.
“Without a doubt the most successful tax administrations around the world continuously encourage, attain and maintain a high degree of voluntary compliance.”
The New Income Tax Act which replaces the internal revenue Act, 2000(Act 592), is among other things expected to broaden the tax base; tackle erosion of the tax base as well as rationalize, streamline and restrict tax concessions.