Tax Analyst and the Executive Director for Revenue Mobilisation Africa, Geoffrey Ocansey has said that every country develops through tax mobilization but it will be suicidal for Ghanaians if the government implements the new taxes proposed in the 2024 budget statement read in parliament in 2023.
Speaking on Plan B FM’s late afternoon show ENBAANOSEN hosted by Ohene Kinnah in reaction to the government’s the imminent introduction of new taxes during the presentation of the 2024 budget, Mr. Ocansey said, “I remember this government said they will move this country from taxation to production, what has happened?”
He said the government is continuing to increase taxes but has refused to do the needful by cutting down its expenditure “In 2022 alone Ghs51 million fuel allocation at the presidency was too much but whilst you go to the develop countries ministers use trains and other commercial transport why can’t we imitate them to make good use of our taxes.”
He stressed that the government’s inability to fight corruption and recoup the stolen and misappropriation of funds from government appointees is also another aspect that has crippled the country’s finances.
Meanwhile, A University of Cape Coast Senior Lecturer, Dr. Seyram Kawor, has expressed concerns over the potential hardships caused by new tax introductions.
He emphasized that while the government aims to boost revenue for national development, improper tax measures may negatively impact both businesses and individuals, possibly leading to the collapse of many enterprises.
Dr. Kawor also highlights the existing skepticism towards tax payments, citing concerns about the government’s accountability for tax-funded projects.
Additionally, he noted that the introduction of new taxes could escalate the cost of living, as businesses are likely to pass on the burden to consumers, resulting in higher prices for various products.
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