Gov’t Petitions Parliament To Withdraw New Taxes – Finance Minister


The Minister of Finance, Seth Terkper says government is not oblivious of the concerns and criticism of the public arising out of the implementation of recent taxes like the new income Tax Act 2015, (Act 896).
 
He disclosed that as a listening government which will always act in the best interest of its citizenry it has sent proposals to the Speaker of Parliament for the withdrawal of the one percent tax on interest for individuals and the reduction of the 15 percent withholding tax on services to seven point five percent. 

The Minister of Finance made the assertion in Ho in a speech read for him by the Deputy Minister of Finance, Mona Quartey at the opening of a four-day 2016 Management Retreat for the Ghana Revenue Authority (GRA).

Radio Ghana’s Volta Regional Correspondent, Korsikuma Hovi reports that the Management Retreat creates platform for the various Divisions of the Authority to evaluate the implementation of the 2015-2017 GRA Strategic Plan from which their operational plan will be unfold. 

It also enable them to discuss past performances and chart the way forward as well as foster team spirit for the new year. 

The Finance Minister, Seth Terkper said it is not the intention of government to unduly burden the citizenry but as Ghana has attained middle income status, it has become challenging for it to contract concessionary loans. He said it is now time for us as a nation to look inwards to mobilise revenue to pursue our development agenda. 

Mr. Terkper stressed that the hitherto untaxed segment of the population will be brought into the tax net saying taxation is the price to be paid to live in civilized societies. 

The Finance Minister commended the GRA for exceeding their 2015 revenue target and urged them to do well to meet and exceed their 2016 revenue target of nearly 28 billion Ghana cedis. 

He said the Ministry sees the GRA as the hen that lays golden eggs and will therefore not relent in giving support through the provision of the necessary policy and logistical backing to enable it fashion effectively. 

The Commissioner General of the GRA, George Blankson disclosed that after five years of existence, it has become necessary to give the GRA a new image, identity and style. 

It has therefore created a new logo, a brand manual and guidelines which will soon be launched. 

He said as part of reforms in tax administration, the GRA has reviewed the various tax laws to conform to international best practice. 

The Board Chairman of the GRA, Ralph Tufuor called for collaboration between the tax payer and stakeholders through stakeholder education and engagement rather than coercion. 

In a message delivered on his behalf, the Agbogbomefia of Asogli State urged the GRA to introduce tax education in schools to imbibe in the young up and coming ones the need to pay taxes.  

GBC