An Associate Director, Tax and Regulatory, at Deloitte Ghana, Gilbert Yirenkyi Addo, has called for the establishment of a centralized digital platform where tax payers can file their financial statements.
According to him, this will help curb evasion of taxes where different financial statements are filed with different state institutions.
Similarly, key institutions such as the Ghana Revenue Authority (GRA), Registrar General’s Department and the Securities and Exchange Commission will be able to access financial statements from this platform.
Answering questions as a panelist at the recent UPSA National Dialogue on Tackling Tax Revenue, Mr. Yirenkyi-Addo also called for the reinforcement of the Tax Audit and Quality Assurance Unit (TAQAU) of the GRA, established in June 2020, to improve the quality of tax audit.
Transparency of Revenue Collection
Following the annual revenue projection by the GRA. he expressed concern about the lack of transparency regarding the actual cost of revenue collection and its net impact
“A true measure of national progress should consider not only gross revenue but also the cost incurred collecting it. This often includes inefficiencies and corruption which may have an impact on revenue generated”, he mentioned.
Mr. Yirenkyi-Addo added that these factors should be accounted for to determine the actual benefit to the nation, underscoring the urgent need for accountability and the enforcement of sanctions.
He however noted that enforcing punitive measures remains a challenge where corrupt individuals who are to suffer these sanctions seek refuge through some Chiefs even when wrongdoings are identifiend.
He called for the strengthening of accountability, saying, it is essential in ensuring meaningful outcomes.
The UPSA National Dialogue on Tackling Tax Revenue was attended by policy makers, politicians, industry stakeholders, academia and students.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
