By Rédaction Africa Links 24 with Emmanuel Tornyi
Published on 2024-01-22 06:16:00
Professor Bokpin spoke out against what he called “state-sponsored robbery” and financial repression in Ghana. He emphasized the need to find ways to generate revenue without burdening citizens and without harming the competitiveness of the private sector. He argued against the imposition of additional taxes, stating that it does not effectively increase the tax revenue to GDP ratio.
Additionally, he pointed out the complexity of the tax system in Ghana, stating that there are over 27 different tax handles and that the compliance cost to the taxpayer is substantial. He also highlighted the lack of predictability in the system, with configurations changing every six months.
Bokpin’s comments shed light on the challenges faced by the Ghanaian economy and the impact of taxation on citizens and businesses. He called for a reevaluation of the current tax system and the implementation of measures to make it more efficient and less burdensome for the people and businesses of Ghana.
The professor’s remarks serve as a reminder of the importance of a balanced and fair tax system that supports economic growth and development without imposing undue hardship on the population. It is a call to action for policymakers and government officials to consider alternative revenue generation methods that promote economic prosperity and financial stability for all citizens.
Read the original article on Pulse
