Government’s 2020 revenue target unachievable

Ken Ofori-Atta, the Finance Minister

A tax expert has contested government’s ability to
achieve its revenue target for 2020 as captured in the 2020 budget presented to
Parliament on Wednesday.

Although Kwaku Adjei Nyamekye lauded government’s strategy to increase production in the country so as to be able to meet its revenue target for 2020, he argued that, measures needed to be put in place to boost production for government to be able to meet its revenue target were lacking in the budget.

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“The Finance Minister said there will be no new taxes because we want to increase production to get the needed revenue, but I haven’t seen any measure put in place to help us get the needed revenue by doing those productive things that will help us meet our revenue target going into 2020,” he said in an interview on Adom Fm’s Dwaso Nsem Wednesday.

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Mr Nyamekye was of the view that with government not increasing taxes but still holding on to abolishing certain taxes and import duties, if proper revenue mobilisation measures are lacking, the government will continue to miss its revenue targets.

He further urged the government to look at areas it couldn’t previously tax and begin taxing those areas.

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He also said increased efforts in taking property rates could greatly help the government in achieving its revenue target and urged the Ministry of Finance, Ghana Revenue Authority and the District Assemblies to work hand-in-hand in mobilising revenue from that area.

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