This was his reaction to calls by the International Monetary Fund (IMF) calls on Ghana to re-introduce taxes it scrapped due to low yielding effects. The IMF recently told the government to Ghana to reinstate some abolished taxes and expand some existing ones in order to meet its short-term revenue projections. Speaking to Ghanaweb’s Desmond Frimpong, the economist re-iterates the need to assess the impact of the abolished taxes before considering re-introducing them. He explains that, “the government in its budget statement said, it abolished taxes it scrapped because of their low yielding effect. Tax payment is a way to raise revenue locally.”“Although our Gross Domestic Product has increased, we should be circumspect whether or not scrapped tax will be introduced,” he added.

Source: GhanaWeb January 25, 2020 11:48 UTC