Government over the period has highlighted the importance of revenue mobilization as a sure way to supporting various plans to sustain the economy. Finance Minister, Ken Ofori Atta on various public platforms has stated how the country cannot continue to depend on only 8.2 percent of the citizens majority of which are in the Greater Accra to carry the tax burden of 30.8 million people.
“Interestingly out of the total population of 30.8million, only 2,364,348 persons are bearing the burden of the entire population as tax payers as at August, 2021”. The finance minister addressing Parliament during the presentation of the 2022 budget added that “in the coming year government will introduce measures that will revamp industry and make their products competitive in both the local and international market”. This coupled with other revenue policies will generate the desired environment for revenue growth.
Mr. Ofori Atta during his delivery added that Greater Accra contributes almost 90 percent of Ghana’s domestic tax. This is followed by Ashanti, Western and Eastern Regions together contributing 3 percent. He noted that as part of various initiatives to mobilize revenue the Ghana Revenue Authority, will continue with its enhance compliance measures to expand coverage and plug revenue leakages.
Another initiative he noted was how digitalization of the tax system was going to help discover, mark and collect revenue from those that fits the cateria. “Mr. Speaker, digitalization is empowering. It has catalized financial inclusion. It mobilizes resources and directs it where its needed. Tens of billions of Ghana cedis are mobilized every month from and by people previously presumed too poor to open and keep a traditional bank account or even operate a mobile phone”.
This year’s budget according the the Finance Minister Ken Ofori-Atta is the “Agyenkwa budget”.