Government cuts fuel coupon allocations to appointees by 50%
Government through the Minister of Finance has announced of wave of measures aimed at raising domestic revenue to deal with the country’s current economic challenges.
According to Ken Ofori-Atta, government’s decision to cut down expenditure will not be enough to sustain the economy which is facing some distress.
Speaking with journalists at a press conference in Accra on March 24, the Minister of Finance said government plans to adopt a two-fold approach to revive the economy.
This, he said will entail controlling and cutting down on expenditure and raising domestic revenue for development.
Government however said it plans to save some GH¢3.5 billion in expenditure through these measures.
GhanaWeb in this article outlines some seven revenue measures government intends to adopt in salvaging the economy.
Here they are as outlined by the Finance Minister, Ken Ofori-Atta
*Government says it will by the end of April 2022 begin the implementation and collection of the revised Property Rate.
*Roll out the simplified tax filing mobile application for all eligible taxpayers by July 2022.
*Implement the E-VAT/E-Commerce/E-Gaming initiatives by end of April 2022 facilitated by the Ghana Revenue Authority.
*Government says it will be impressing upon Parliament to fast track the passage of the E-Levy Bill, Tax Exemptions Bill, and Fees and Charges Bill.
*Government says it will prioritize the Revenue Assurance, Compliance, and Enforcement (RACE) Programme to plug revenue loopholes at the the ports, small-scale mining exporters cabal and fuel bunkering activities.
*Government says it will partner with the private sector to introduce digital systems to monitor quarrying, sand winning and salt winning to get more revenues from natural resources.
*Government with immediate effect will enforce the “No Duty – No Exit” policy at the MPS Terminal at the Tema Port to improve revenue collection.
Finance Minister, Ken Ofori-Atta