Government must find other means through taxation to raise more revenue to govern the country – Financial Expert

Dr. Sampson Anoma, a financial expert and lecturer at Kumasi Technical University, has counseled President John Mahama and the NDC government to explore alternative avenues through taxation to generate supplementary revenue for the proficient governance of the nation.

Dr. Sampson Anoma expressed opposition to the NDC’s earlier campaign promises regarding the abolition of certain taxes introduced by the Nana Addo-NPP administration, highlighting that the prevailing economic conditions necessitate the government’s consideration of imposing additional taxes to those already in place. This measure, he asserted, would aid in bolstering the nation’s Internal Generated Funds (IGF) to support governance and foster development and that NDC must reconsider their earlier decision to cancel the existing taxes

Dr. Anoma underscored the necessity for any government to adopt innovative approaches to enhance and fortify tax collection from defaulters and other citizens, thereby broadening the nation’s tax base. He lamented the manner in which political parties extend tax incentives to their business-affiliated members, ultimately impacting the tax net, thus necessitating the cessation of such practices.

He remarked that some tax defaulters are not pursued because if the revenue from these defaulters does not surpass the cost of pursuing them, it becomes imperative to forgo the pursuit rather than incur losses in an attempt to bring these defaulters into compliance.

Story By: Kwaku Mensah Abrampa GIFTs FM – Dormaa Ahenkro