John Kumah, Deputy Minister of Finance
Our tax contribution in Ghana is low, John Kumah
We need to raise more revenue for the country
Revenue from our mineral resources is not enough
Deputy Finance Minister, John Kumah, has said Ghana is down in terms of the levels in the contribution of taxes compared to other countries.
He posited that the country is way below the revenue it needs to generate for the development of the country and therefore something needs to be done to raise the revenue the country is generating.
“To understand where we are, let’s go to Europe, the average tax to their revenue is about 35 to 40 percent when you come to Africa, it’s about 25 percent, Ghana is between 11 to 12 percent in the last 5 years in terms of the taxes that we collect, we are so down in terms of levels of contribution of taxes and the revenues that we have to raise in the country so something has to be done to raise it up”, he said.
Speaking to Thelma Tackie on the GTV Breakfast show, the deputy minister said the e-levy will help the country to get to 16 percent with all the taxes the government expects to collect.
“The E-levy will help us to get to 16 percent with all the appropriation, the revenues and expenditure we expect to collect, e-levy is contributing and helping Ghana to raise up to 16 percent which is still not enough”, he mentioned.
According to the Minister, the revenue generated from our mineral resources is not enough to help the country to develop fully.