Business News of Tuesday, 29 December 2020Source: www.ghanaweb.comOnly 1.5 million people pay their taxes in Ghana - ConsultantStakeholders called for the swift passage of the Tax Exemption Bill to regulate the tax regimeLead Consultant at the Ghana Anti-Corruption Coalition, John Otchere, has disclosed only 1.5 million people pay their taxes in Ghana. According to him, the figure is rather low as compared to some 6 million people who are expected to pay their taxes. Speaking at a dissemination meeting to promote equity in tax incentives and tax exemptions, Mr Otchere explained, "Currently in Ghana, only 1.5 million people pay their taxes but in actual fact, 6 million people are to pay tax so if Ghana wants to achieve the Sub-saharan average tax to GDP of 17 percent it has a lot to do in broadening the tax base""Ghana collects less taxes than it should and therefore relies heavily on external financing," the consultant stressed. At the meeting, stakeholders called for the swift passage of the tax exemption bill to regulate the country's tax regime. Meanwhile, Ghana is ranked among one of the lowest tax to GDP ratios in Africa.

Source: GhanaWeb December 29, 2020 11:15 UTC