News

Informal sector to pay taxes through Mobile Money - Dr. Bawumia

• By EDMOND GYEBI
• April 09, 2019
• 36

The Ghana Revenue Authority (GRA) has announced that small scale self-employed taxpayers including commercial transport operators will soon pay taxes through mobile money.

The authority says it is ready to launch an electronic payment platform for operators in the informal sector to improve tax collection.

Currently, only 200,000 taxable people in the informal sector pay taxes.

Vice President, Dr. Mahamudu Bawumia speaking at the GRA’ s 2019 Tax and Good Governance Week, expressed optimism the platform will enhance tax collection.

Dr Bawumia also reiterated the need for improved domestic revenue mobilization as a way of helping government achieve its vision of Ghana Beyond Aid.

“The Ghana Beyond Aid Agenda, is a key vision of the current government, as it believes the country has all the resources to be self-sufficient”.

“The president has a vision of establishing Ghana as the Black Star of Africa, a prosperous country that provides economic opportunities for its people and thrives in a democratic society driven by the desire for equitable development for all parts of the nation,” Dr. Bawumia stated.

Also speaking at the launch, Finance Minister Ken Ofori-Atta said the need for improved domestic revenue mobilization has become crucial especially as Ghana has exited the IMF programme.

“About three weeks ago, the country concluded its credit facility programme with the IMF. It is, therefore, necessary that domestic resource mobilisation efforts are being greatly enhanced. All hands must be on deck in our revenue mobilisation drive,” he said.

Tax revenue contribution to the country’s Gross Domestic Product for 2018 was 10.8%. The figure is expected to increase to 17.1% by the end of 2019.

Meanwhile, the GRA has launched the Integrated Tax Application and Preparation System(iTaPS), another electronic platform through which taxpayers can conveniently file their personal income tax returns from the comfort of their homes and offices.

The GRA’s Tax and Good Governance Week is used to create awareness on the need for citizens to pay taxes. Commissioner General, Emmanuel Kofi Nti expressed optimism the digitization of the filing processes will enable his outfit meet the 2019 revenue target.

Source: citinewsroom.com