News:
April 23, 2014
The Member of Parliament for Okaikwei Central, Hon. Patrick Yaw Boamah has underscored the need for government to computerize the tax system effectively and efficiently so it would clearly capture the economy and also help it address the perceived shortfalls in the tax administration.
However he echoed that the informal sector is where government needs to redirect its attention as a resolve to widen its tax base.
He said Ghanaians are already overburdened with taxes and therefore cautioned government to be wary of what kind of tax to introduce into the system so it doesn’t generate despair and misery amongst Ghanaians.
Speaking on Multi TV’s AM Morning show today concerning the issue of the controversial 17.5% new VAT rate on Banking servics, the Law maker indicated that there was consistent lingering of doubts on the minds of the public with this levy, adding that there were seemed to be some miscommunication on right services which are to be affected by this particular tax.
“There has to be adequate public education on this. The Bank of Ghana (BOG) is the regulator in the sector and they work closely with the banks therefore they should have the due diligence to come out and clear the air on this issue”, he stressed.
Highlighting on the issue further, the Member of Parliament for Ayawaso North, Hon Mustapha Ahmed conceded that indeed there have been lapses on the part of the banks in the aspect of communication of this tax to their customers, as the specification of the tax will not really affect all services speculated by the banks. He thus asked the banks to consider coming out again and giving the right information on the banking services to be affected by this tax.
The MP who is also a Minister of State at the Presidency in Charge of Development Authorities however said it was imperative for government to broaden its tax net, as there have been increasing calls for government to do so to enable it shape the economy well.
Jonathan Jeffrey Adjei/Ghanamps.gov.gh