No New Taxes, Just Smarter Collection – Deputy Finance Minister Assures
Government to focus on tax base expansion and compliance to boost revenue without imposing additional levies
- Government dismisses claims of fresh levies in the upcoming budget
- Focus on improving collection and broadening the tax base
- Ghana to optimize economic rent amid restricted bond market access
Deputy Finance Minister-designate, Thomas Nyarko Ampem, has assured Ghanaians that the upcoming budget will not introduce new taxes, despite claims by the Minority that the government plans to generate GH₵200 billion through additional levies.
Addressing concerns, Nyarko Ampem emphasized that the government’s strategy will focus on expanding the tax base and enhancing compliance rather than imposing fresh taxes.
“The Finance Minister has been clear on this—we don’t need new taxes to increase revenue. Instead, we’ll broaden the tax base and improve compliance. This will be evident in the budget presentation,” he stated.
He further noted the importance of maximizing revenue from key industries, especially given Ghana’s restricted access to international bond markets. “We must enhance revenue and manage expenditure effectively to navigate these economic challenges,” he added.
The budget, scheduled for presentation on March 11, aims to strengthen domestic revenue mobilization without placing additional tax burdens on citizens.
