Government won’t overburden Ghanaians with taxes – Dr. Amin Adam assures

Government won’t overburden Ghanaians with taxes – Dr. Amin Adam assures

The Finance Minister, Dr. Mohammed Amin Adam, has promised that the government is resolved not to burden Ghanaians with more tax payments.

Instead, in order to obtain money from individuals who have been avoiding paying taxes in the nation as well as those who have not been paying the proper taxes, the government would “use the hard way.”

This was said by Dr. Amin Adam at a news conference on Saturday, April 13, following Ghana’s agreement at the staff level with the International Monetary Fund (IMF) over the nation’s Extended Credit Facility (ECF) arrangement.

The Minister stated that there was a GHS1.8 billion income shortfall as a result of the removal of the GHS100 yearly fee on owners of gasoline and diesel cars and the 15% Value Added Tax (VAT) on electricity consumption.

According to him, the administration was cautious not to overburden the few Ghanaian taxpayers while simultaneously indicating that there was an urgent need to raise income in order to implement the US$3 billion loan-support package.

Therefore, the government will be unwavering in its commitment to guaranteeing the efficient execution of the revenue-generating mechanisms that were declared in the budgets for 2023 and 2024, but which were not executed well.

“Now, we’re determined to go out there and collect the taxes from those who have not been paying and those who have been evading taxes…to generate the desired revenue to fill the gap created due to the suspension of the taxes,” he said.

Additionally, Dr. Amin Adam said that the government was working to overhaul the tax administration system to guarantee that accurate assessments were made and that individuals were forced to pay the right taxes to the state in the quickest and most convenient manners.

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