All existing tax systems are going to be reviewed in 2020 - Ofori-Atta

All existing tax systems are going to be reviewed in 2020 - Ofori-Atta

The Minister of Finance Ken Ofori-Atta has disclosed the government’s intentions to review the existing tax systems in the country, in order to introduce more private sector-led solutions in revenue mobilisation efforts ahead of the 2020 budget presentation.

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He said the government's decision follows the inability of the Ghana Revenue Authority (GRA) to meets its domestic revenue mobilisation targets in the last four years.

Speaking in an interview on Citi FM, Ofori-Atta stated that countries did not grow because of customs revenue, which is considered a significant chunk of domestic revenue.

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Ofori-Atta explained that come 2020, the government would conduct holistic reforms that would place a premium on the role played by the private sector in mobilising revenue for the state.

“We have been responding, changing different handles to suit the moment. I think it is time to look at the whole infrastructure of taxation especially as we are now looking to private sector solutions to the transformation,” the Finance Minister revealed.

In other news, the senior minister Yaw Osafo-Maafo has been charged over $1 million for entering into an agreement with a foreign company without following due process.

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According to the Auditor-General Daniel, Yao Domelevo, Osafo-Maafo has less than 60 days to go to court to seek an order setting aside his directive.

The Auditor-General said the senior minister's responses to his queries over a government contract with Kroll Associates UK were not satisfactory enough.

The senior minister, in 2017, contracted the services of Kroll Associated, UK Ltd, using a single-source procurement process, which according to Ghana’s 1992 Constitution, was not supposed to be so, but rather go through parliamentary approval.

READ ALSO: Senior minister Osafo Maafo surcharged $1m over foreign contract

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Source: Yen

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