Business News of Monday, 16 September 2019
Finance Minister, Ken Ofori-Atta has hinted that there will be more prosecutions of tax defaulters in 2020 to improve domestic revenue mobilization.
Government has missed its domestic revenue mobilization targets for the past three years and is currently lagging behind its GH¢45 billion target for 2019.
This is despite some changes made at the top hierarchy of the GRA in June this year, which the government explained that it was a retooling exercise to improve revenue mobilization.
Although the GRA has already been undertaking exercises which have resulted in the prosecution of some individuals and business owners this year, Mr. Ofori Atta said going forward, there will be strict enforcement of the law to ensure tax compliance.
“You know we changed all the commissioners and that is expected to yield some good results. And some prosecutions will be in order. The issue really is how we all pay taxes, he told Citi Business News after a ceremony to sign a US$24 million loan from the Kuwait government for the rehabilitation of the Dome-Kitasi road.
The Minister also revealed that the government will realign how gold from the small scale mining sector leaves the country to accrue more revenue.
Currently, hundreds of tons of gold are smuggled out of the country without the necessary documentation and taxes. Mr. Ofori-Atta further expressed worry about the failure of most taxpayers to fulfil their tax obligations.