THE GOVERNMENT of Ghana has reaffirmed its commitment to strengthening oversight of the country’s tax exemption regime as part of broader efforts to maximize domestic revenue and reduce reliance on foreign aid.
Speaking during a meeting with a visiting delegation from the South Sudan Revenue Authority, Deputy Minister of Finance, Hon. Thomas Ampem Nyarko, described the current tax exemptions framework as a longstanding revenue leakage point that demands urgent reform.
“We are no longer receiving the level of aid and grants we used to,” he said. “It’s now more important than ever to look within and ensure our revenue systems are robust and leak-proof.”
While acknowledging that tax exemptions can be important tools for attracting investment and stimulating priority sectors, Mr. Ampem Nyarko noted that the system had been riddled with abuse over the years.
He assured that the government is taking deliberate steps to close loopholes, enhance transparency, and ensure exemptions are granted based on merit and national interest.
The South Sudanese delegation, led by the Deputy Commissioner of the South Sudan Revenue Authority, is in Ghana to learn from the country’s reform.
They cited Ghana’s progressive approach to tax policy and institutional reforms as their motivation for the study visit.
Insights from the visit, the delegation noted, would feed into South Sudan’s development of its own tax exemption framework, as the country works to build a resilient fiscal system.
The meeting notes Ghana’s growing reputation as a reference point for tax reform in the sub-region
Source: Nationaltymes.com
