“Let us find ways to fix this menace not necessarily through taxing and I hope IFS will come out very soon, we cannot continue to virtually give away our extractive resources. In developing a country, economies largely depend upon revenues from their extractive sector to plan their development. “Always we should raise our tax revenue, how much can we tax poor people. The extractive sector that is in the hands of foreign investors we have to take it back so that we are able to raise revenue to develop, if only we are interested in development. However, out of a sample of 35 countries from sub-Saharan Africa, Ghana was ranked 17th in terms of tax-to-Gross Domestic Product ratio.

Source: GhanaWeb June 22, 2021 11:15 UTC