Business News of Sunday, 8 August 2021Source: www.ghanaweb.com• Government is seeking avenues to introduce flat taxes for specific income earners• Finance minister Ken Ofori-Atta said the move forms part of government's revenue generation efforts• The GRA has recorded a shortfall in revenue mobilization for the first half of 2021Finance Minister, Ken Ofori-Atta, has indicated that government is looking at avenues to introduce flat taxes meant for specific income earners in Ghana. Flat taxes come in the form of a single rate tax placed on a taxable amount after accounting for any deductions or exemptions from an initial tax base. “We are also contemplating maybe some issues of flat taxes for some categories of incomes so that everybody participates," the finance minister said. Already, the Ghana Revenue Authority has recorded a shortfall in its revenue mobilization efforts for the first six months of 2021. The revenue arm of government has collected GH¢25.89 billion in tax revenue as against GH¢26.1 billion targeted for the period, resulting in a GH¢212 million shortfall.

Source: GhanaWeb August 08, 2021 10:52 UTC