KMA to lose GH¢8 million of annual revenue target
The expected revenue shortfall forms a quarter of this year's projected tax revenue of GH
The Kumasi Metropolitan Assembly (KMA) is expected to lose some GH¢8 million of its projected annual revenue due to the impact of the coronavirus.
Read full article The expected revenue shortfall forms a quarter this year's projected tax revenue of GH¢32 million.
This development, according to the Deputy Finance Officer of KMA, Rev Samuel Opoku Amponsah, is anticipated to affect expenditures funded from the assembly’s Internally Generated Funds (IGF), the thebftonline.com reports.
He also indicated his outfit's inability to realise the daily collections made by the assembly during the lockdown period.
Meanwhile, he said the assembly has put in place a taskforce to help undertake rigorous tax collection exercise, collect data and also help sensitize the public on voluntary tax compliance.
Rev. Opoku Amponsah also observed that the expenditure pattern of the assembly has also increased and part of the assembly’s monies have been spent on social interventions especially COVID-19 related issues.
“COVID-19 demands that there are social interventions, and the assembly did its part,” he stated. He said they undertook COVID-19 support at the various health centers, market places, lorry parks, and some radio stations as well.
With increased expenditure but reduced revenues, he bemoaned the poor attitude of the public against payment of taxes.
“Without the payment of taxes, we cannot support the development of the country. The assembly supports security, education, health developments among others of the local people,” he said.
