Minister of Finance, Dr. Cassiel Ato Baah Forson, has charged the Ghana Revenue Authority (GRA) to increase revenue mobilization to help Ghana overcome its debt challenges. To achieve this, Forson recommends that the GRA implement several strategies, including increasing tax rates, reducing tax breaks, expanding the tax base, improving enforcement, and introducing new taxes.<\/p>\n\n\n\n
Forson emphasized that Ghana’s current debt situation is dire, and the country cannot continue to rely on external borrowing. He noted that Ghana is locked out of the international market, and even if it were possible to access loans, the country would not be able to secure favorable interest rates or repayment terms.<\/p>\n\n\n\n
To address this challenge, Forson urged the GRA to take bold steps to increase revenue generation. This includes implementing new taxes, reducing tax exemptions, and improving tax compliance.<\/p>\n\n\n\n
By doing so, the government hopes to reduce its reliance on external borrowing and create a more sustainable fiscal environment.<\/p>\n\n\n\n
In a related development, the GRA has already taken steps to improve revenue generation, including the introduction of a new property rate regime, which is expected to generate over GH\u00a21.77 billion in revenue annually.<\/p>\n","protected":false},"excerpt":{"rendered":"
Ato Forson Urges GRA to Boost Revenue to Tackle Ghana’s Debt<\/p>\n
Minister of Finance, Dr. Cassiel Ato Baah Forson, has charged the Ghana Revenue Authority (GRA) to increase revenue mobilization to help Ghana overcome its debt challenges. To achieve this, Forson recommends that the GRA implement several strategies, including increasing tax rates, reducing tax breaks, expanding the tax base, improving enforcement, and introducing new taxes.<\/p>\n
Forson emphasized that Ghana’s current debt situation is dire, and the country cannot continue to rely on external borrowing. He noted that Ghana is locked out of the international market, and even if it were possible to access loans, the country would not be able to secure favorable interest rates or repayment terms.<\/p>\n
To address this challenge, Forson urged the GRA to take bold steps to increase revenue generation. This includes implementing new taxes, reducing tax exemptions, and improving tax compliance. <\/p>\n
By doing so, the government hopes to reduce its reliance on external borrowing and create a more sustainable fiscal environment.<\/p>\n
In a related development, the GRA has already taken steps to improve revenue generation, including the introduction of a new property rate regime, which is expected to generate over GH\u00a21.77 billion in revenue annually.<\/p>\n","protected":false},"author":1,"featured_media":5065,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,18],"tags":[],"class_list":["post-5061","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-latest","category-local"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t