The Institute of Statistical, Social and Economic Research (ISSER) has asked the government to limit human contact in the country’s revenue mobilization by introducing automated and computerized tax collection systems.
According to the institute, human contact in revenue collection usually forms grounds for bribery and corruption which denies the country of needed revenue.
Describing the 2021 budget and economic policy as a positive document that, if well implemented, will resuscitate the economy, Director of ISSER, Prof. Peter Quartey said he believes “Government is not collecting 100% of revenue due it through taxes”.
“When they bring you your property rate, they add their phone numbers and ask you to call, and when you call them, they negotiate a reduction with you, and you pay without a receipt so where are we heading as a country?” Prof. Quartey quizzed.
Prof. Peter Quarter, speaking at the review of the budget statement and economic policy organized by ISSER also said the governments 2021 budget and economic policy, if well implemented, has what it takes to resuscitate Ghana’s economy.
Even though revenue as a proportion of Ghana’s Gross Domestic Product (GDP) is expected to increase to 16.7% this year, which is at least 3% less than the African Standard of 20%, Prof. Peter Quartey said the projected increase is still commendable.
“The increase from 14.3% revenue per GDP to 16.7% is a good thing which is worth commending. Even though this is still lower than the 19% to 20% which is the African standard, the increase is still worth commending,” Prof. Quartey said.
With the hope that the economy recovers from the impacts of the COVID-19 pandemic, Prof. Quartey said wage increments in the medium term should be moderate and based on the cost of living differentials and productivity.
At the same event, Managing Director of the ADB, Dr Kofi Mensah said the 5% tax on profit slapped on Ghanaian banks will in a long run be beneficial for the country’s economic development.
