No New Taxes: Ato Forson’s Plan to Drive Ghana’s Revenue Growth Through Compliance
Finance Minister-Designate outlines plans to enhance compliance, raise revenue-to-GDP ratio, and prioritize economic stability without burdening taxpayers
- Dr. Ato Forson plans to enhance tax compliance rather than increase tax rates to boost revenue
- He aims to raise Ghana's tax revenue-to-GDP ratio from 13.8% to 16%-18%
- The Finance Minister-designate is committed to achieving single-digit inflation and scrapping select taxes
Dr. Cassiel Ato Forson, the Finance Minister-designate, has highlighted the critical role of compliance in unlocking Ghana’s revenue potential, emphasizing that tax hikes are unnecessary.
During his vetting by Parliament’s Appointments Committee on January 13, Dr. Forson committed to raising the tax revenue-to-GDP ratio from 13.8% to 16% in the medium term by enhancing compliance and working closely with the Ghana Revenue Authority and the Finance Ministry’s tax policy unit.
“There’s no need to increase taxes to generate revenue. Ghana has untapped potential in tax revenue mobilisation; what we need is to improve compliance,” he explained.
Dr. Forson also reaffirmed the Mahama administration’s dedication to eliminating select taxes while promising to return inflation to single-digit levels if confirmed.
