Dr. Cassiel Ato Forson, Minister designate of Finance has stated that his administration would increase the nation’s revenue without having to widen tax net, thereby inconveniencing Ghanaian businesses.
He says he believes Ghana has a substantial potential in revenue mobilisation, therefore there would be no need to increase taxes.
Speaking during his vetting by the Appointments Committee of Parliament on January 13, Dr. Ato Forson pledged to raise the tax revenue-to-GDP ratio from 13.8% to 16% if approved.
“In the medium term, it is my vision when approved to increase the tax revenue from 13.8% of GDP to 16% -18%. By this, we will be able to compare ourselves to our peers. I believe the potentials are out there, but it doesn’t necessarily mean we should increase taxes”, he stated.
Ato Forson also expressed his commitment to working with the various government financial and revenue generating institutions to ensure the growth of the economy, and also assured that the Mahama government would scrap off certain taxes as promised earlier during the campaign season.
