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2021-03-16

[I] UK defends Oxford Covid vaccine over fears of blood clots
[N] COVID-19: Continue using AstraZeneca vaccine – WHO
[S] Preko: Expect a very competitive 2nd round
[S] Clubs owe coaches five months’ salary
[S] Legon Cities: Asamoah Gyan investment has yielded good returns
[B] Pursue demands through negotiation, arbitration – Telcos told
[A] Tension in Dixcove following beating of chief to pulp
[B] Don’t approve new fuel levies – COPEC to MPs
[B] There’s no justification for newly proposed petroleum taxes – Wereko-Brobby
[A] Apam: Burial service for drowned teens to be held today
[N] Publisher, Badu Nkansah, apologises for ‘offensive Ewe’ textbooks
[N] Parliament’s Volta Caucus condemns ethnocentric publication in history book
[N] Ghanaians to pay tax for Covid-19 ‘free water’ enjoyed to fill economic gap

2021-03-15

[N] NaCCA orders withdrawal of unapproved textbooks
[B] Ghana prepares to issue $5 billion Eurobond
[N] Brain tumor patient appeals for GH¢ 30,000.00 for surgery
[N] AIMS Forum to mark International Mathematics Day
[N] Tema Sewer System: Ambitious project to address predicament
[N] A 21-year-old man stabbed to death at Effia
[N] Estate developers laud government’s decision to aid rent advance payments
[N] Let’s prioritize STEM; It’s the new niche for education policy – Ntim Fordjour
[N] 12 new deaths push toll 679; active cases now 3,994
[N] Over 400,000 Ghanaians vaccinated so far – Oppong Nkrumah
[N] Prof Allotey’s 9 Aug birthday must be made National Maths Day – Prince Armah
[N] Telecom workers to embark on strike from today
[N] NDC won the 2020 election hands down – Hannah Bissiw claims
[B] There’ll be ‘bitter hardship’ for Ghanaians because of 2021 budget – Forson
[N] Asiedu Nketia should be NDC running mate for NDC victory 2024 – Atubiga
[N] Rawlings kept over 20 wild dogs at his Ridge Residence alone – Hannah Bissiw

2021-03-14

[A] Kinaata’s Things Fall Apart can’t be called a gospel song
[S] Boxing legend ‘Marvellous’ Marvin Hagler dies aged 66
[B] 2021 budget designed to lift Ghana out of challenges imposed by COVID – Alan
[B] I’ll support Agyapa deal 2,000% – MP Egyapa Mercer
[S] What I’m seeing in training is massive–Mubarak Wakaso
[B] Notorious Wa thieves transporting pregnant goats involved in accident
[N] NEWSPut ‘petty politics’ aside and support Akufo-Addo, Bawumia
[B] Ghana risks losing €258m earmarked for the 2nd phase of Kejetia market
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[S] GFA fix new date for start of second round
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Business

[ 2017-11-07 ]

2018 budget to improve domestic revenue collection
Finance Minister, Ken Ofori-Atta has stated that
the 2018 budget which will be presented in
parliament later this month will use innovative
ways to improve domestic revenue collection for
economic development.

This follows calls from the Institute of Fiscal
Studies, urging government to use the 2018 budget
to improve tax collection by broadening the tax
base.

Speaking at the 38th Annual Technical Conference
in Accra, Ken Ofori-Atta stated that it is
important to improve tax collection since
Ghana’s tax to GDP ratio is below what is
required for economic development.

He hinted that improving domestic revenue is one
of the critical areas that the budget will
address.

“We are in the middle of our tax budget season
and the budget will be read on November 15th and
the challenges are obvious to us in terms of where
we are as a nation,” he observed.

“Currently tax to GDP is about 16 percent which
is much lower in terms of where we are as a nation
which is much lower than it should be since we
should be looking at about 22 to 25 percent and
that possess a challenge,” he said.

Giving some figures, Mr. Ofori-Atta pointed out
that the tax compliance among the informal sector
is too low despite the economic activities
generated in that sector.

This, he said has put the tax burden on a few
workers in the formal sector, affecting
government’s revenue projections.

“We have a situation where about 4 million
people in the formal sector and about 1.1 million
are paying taxes of about 3.5 billion”.

GRA targets 40bn domestic revenue

Meanwhile, the Ghana Revenue Authority (GRA) has
hinted that it may target over 40 billion cedis
revenue generation in the 2018 budget to boost
government revenue base.

The Commissioner General of the Ghana Revenue
Authority (GRA), Emmanuel Kofi Nti stated that the
authority intends to improve its operations to
meet the target.

Source - citibsinessnews.com



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