Gov’t is reviewing tax laws to keep pace with changing economy – Vice President

Vice President Jane Naana Opoku-Agyemang announced that Ghana's government is conducting a thorough examination of the nation's tax laws. The primary objective of this review is to streamline compliance processes, enhance fairness, and ensure that Ghana's tax system remains relevant in the face of a rapidly evolving economy. Speaking at the Ghana Revenue Authority's annual Tax Conference in Accra on Wednesday, August 19, Opoku-Agyemang emphasized that this review is part of the larger initiative to modernize Ghana's tax administration by embracing technology, refining data systems, and improving interactions with taxpayers.

Opoku-Agyemang highlighted that tax reform encompasses more than just the introduction of new policies; it also involves the establishment of efficient administration and the forging of stronger partnerships between the government and taxpayers. She added that the government is further advancing tax digitization efforts to boost efficiency and enhance revenue collection.

Among these initiatives are enhanced systems for taxing digital transactions across borders and the introduction of electronic devices to bolster compliance and oversight.

The Vice President stressed that achieving Ghana's tax reform goals requires a collaborative effort between the state and taxpayers. She underscored the pivotal role played by tax professionals in fortifying the tax system. These professionals act as a crucial link between the government and taxpayers by clarifying legislation, providing advice to individuals and businesses, assisting taxpayers in fulfilling their obligations, and contributing to the evolution of tax policies.

Opoku-Agyemang called upon tax professionals to persist in offering the expertise necessary to cultivate a more effective, equitable, and responsive tax system that can bolster Ghana's long-term economic growth.