28.2 C
Accra
Saturday, September 14, 2024
NewsL.I in the offing by Finance Ministry to enhance property rate collection

Date:

L.I in the offing by Finance Ministry to enhance property rate collection

The Ministry of Finance has established a team tasked with drafting a Legislative Instrument (LI) to facilitate the enforcement of the Local Governance Act 936, aimed at enhancing property rate collection nationwide.

Once enacted, the LI will tackle current obstacles that impede the creation of an efficient property rate collection system.

“You would recall that the Ghana Revenue Authority (GRA) was tasked to assist Metropolitan, Municipal and District Assemblies to implement a Unified Common Platform (UCP) for property rates administration, enhancement, and collection accountability.”

“Following the challenges encountered, the initiative had to be halted by the government to allow both the GRA and the MMDAs to streamline their processes for implementation,” said Mr George Winful, Director for the Revenue Policy Division, Ministry of Finance.

He was speaking at the maiden National Tax Conference held on the theme, “Improving progressive Property Taxation and Tax Compliance: The Key to Increased Domestic Revenue Mobilisation in Ghana.”

The event, funded by the Hewlett Foundation, was organized by Oxfam.

Mr. Mohammed Anwar Sadat Adam, Oxfam’s Programmes and Policy Influence Lead, highlighted that progressive taxation is a key approach to addressing inequality and injustice, which exacerbate poverty.

He mentioned that Oxfam, in collaboration with various stakeholders, has launched initiatives focused on capacity building, fostering stronger partnerships between citizens and local authorities, and creating social platforms to raise awareness of tax obligations and discuss strategies for revenue generation.

“We also worked with the Ghana Anti-Corruption Coalition at the national level together with other coalition members to generate evidence that contributes to the availability of data on tax administration efficiency, corporate tax behaviour towards fair taxation through the Fair Tax Monitor and the Ghana Responsible Tax Index,” he said.

Assistant Commissioner of the Policy and Programmes Department at the GRA, Mr. Dominic Naab, emphasized the organization’s dedication to improving the tax system’s efficiency and boosting compliance through strong enforcement, comprehensive education, and partnerships with key stakeholders.

He affirmed the GRA’s willingness to work closely with all parties to ensure that progressive taxation serves as a catalyst for growth, empowerment, and sustainable development.

“We owe it to our communities and future generations. It is through tax compliance that we can build schools, better education, and infrastructure needed to drive economic growth and social inclusion,” he said.

OXFAM also introduced the Fair Tax Monitor, a tool for comparing tax policies and practices across various countries, along with the Ghana Responsible Tax Index (GRTI) report, which evaluates and contrasts the responsible tax practices of multinational and large companies in Ghana.

Will you vote in the 2024 general election?
Will you vote in the 2024 general election?

Latest stories

Non-performing loans ratio in banking sector increased to 24.2% in 2023 – BoG

The Bank of Ghana’s July 2024 Monetary Policy Report...

SEC establishes task force to crack down on fraudulent online investment schemes

The Securities and Exchange Commission (SEC) has announced the...

List of presidential aspirants who have filed nomination forms

The Electoral Commission (EC) officially opened its nomination process...

Marriage is not meant for everyone – Pastor

Marriage counselor Rev. Dr. Nanayaa Owusu-Prempeh has highlighted that...

Anomalies in voters register have been resolved – EC

Deputy Chairperson of the Electoral Commission (EC), Dr. Bossman...

Related stories

List of presidential aspirants who have filed nomination forms

The Electoral Commission (EC) officially opened its nomination process...

Anomalies in voters register have been resolved – EC

Deputy Chairperson of the Electoral Commission (EC), Dr. Bossman...

Deal with any of our officials who breaches your laws – China govt to Ghana

China’s government has asked Ghana to take legal action...

GHS85m spent on rehabilitating Essipong, Accra and Baba Yara Sports stadia – Ablakwa

Member of Parliament for North Tongu, Samuel Okudzeto Ablakwa,...

EC rejects PPP’s nomination forms over failing to meet deadline

The Electoral Commission (EC) of Ghana has rejected the...

Bawumia can’t join presidential debate if Mahama is not willing to – NPP tells IEA

The spokesperson for Dr. Bawumia’s 2024 campaign, Dennis Miracles...

LEAVE A REPLY

Please enter your comment!
Please enter your name here