Another tax the Fund called for its re-introduction is the high-income tax rate of 35 percent. According to the IMF, if government make these adjustments to the various taxes discussed above, the economy will gain up to 0.8 percent of GDP in tax revenue. “Tax policy reform could focus on mining taxation and exemptions. The exemption bill, submitted in Parliament, does not address several tax expenditures which could be considered for further streamlining. Tax administration should focus on the adoption of the draft Compliance Risk Management Strategy (CRMS),” the Article IV Consultation press release said.

Source: GhanaWeb January 13, 2020 14:48 UTC