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Fresh taxes, increase in tax rates not essential for revenue mobilization – ISSER

M.Cby M.C
January 14, 2022
Reading Time: 3 mins read
M.Cby M.C
in Economy, Sub Top Stories1
0
Fresh taxes, increase in tax rates not essential for revenue mobilization – ISSER

Professor Peter Quartey- Director of ISSER

Professor Peter Quartey, an Economist and the Director of the Institute of Statistical, Social, and Economic Research (ISSER), has intimated that the government’s intention to raise tax rates and introduce new levies to boost revenue mobilization is unnecessary.

Instead, he argued that the government should concentrate on improving revenue collection efficiency.

“If you look at the 2022 budget, you’ll see a lot of new policies to revive revenue mobilization in terms of ensuring tax efficiency using digitalization to rake in more tax revenue. We have said this from time to time, but we don’t implement them like we should. I don’t think we should introduce new taxes, I don’t think we should increase the tax rate.”

Professor Peter Quartey

Professor Quartey disclosed that the country’s present tax collection system is ineffective and provides several opportunities for corruption and leakage.

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He averred that if the government is serious about increasing revenue, it should develop a more effective way to collect taxes. The renowned economist advised the government to cut out middlemen in the revenue collection process suggesting if the government collects the revenues directly, it will improve revenue collection and efficiency in the country.

“If we’re able to take out the middleman, in other words, if we’re able to ensure that people pay straight into government chest like it’s being done through the GRA portal, and many others, we’ll reduce a lot of the corruption [and], the leakages in the system. Ensuring tax efficiency is one of the surest ways that government can raise revenue.”

Professor Peter Quartey

Other Revenue Sources

Professor Quartey further surmised that the government has been so focused on taxes as a source of revenue that it has disregarded other internal revenue sources. Other revenue mobilization avenues, such as non-tax revenues, he stated have the potential to meet the government’s revenue demands and should be explored.

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“We have also not done so well with non-tax revenue. It’s always raising taxes here and there, but there is non-tax revenue like property rates for instance. We’ve allowed the local authorities, the local government or district assemblies to mobilize this resource.

Professor Peter Quartey

The professor further implored the government to embrace digital tax collection methods, claiming that this would eliminate human errors and increase the system’s efficiency.

“I don’t think they have been efficient in mobilizing this resource. Perhaps the Central government should come in, either through digitalization or other more efficient ways to ensure that we mobilize property rates and many other non-tax revenues.

Professor Peter Quartey

Prof. Quartey also chastised the State-Owned Enterprises for their consistent inability to make profits but instead relying on the government for funding. This, the lecturer said hurts the government finances.

“There are lots of opportunities out there for revenue mobilization. Government has SOEs that should be profit making but they’re not. A lot of them rather depend on the government.”

Professor Peter Quartey

It can be recalled earlier that Finance Ministe,r Ken Ofori-Atta, mentioned that 19 out of 28 State-Owned Enterprises (SOE’s) posted losses of about GHS 1.6 billion for 2020, due to the COVID-19 pandemic.

According to Mr. Ofori-Atta, the state even had to offer help in the payment of salaries of their workers because the SOEs’ condition was dire.

READ ALSO: Hospital visits by Pensioners going up, reevaluate your operations to help them- SSNIT Told

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