Ghana can raise more revenue without new taxes – Dr Theo Acheampong

The Technical Advisor at the Ministry of Finance, Dr Theo Acheampong, has said Ghana can increase government revenue by improving tax compliance and collection systems rather than introducing new taxes.

He said the government was working to close revenue collection gaps and reduce tax exemptions that were not properly justified as part of efforts to strengthen the country’s public finances.

President Mahama eyes Afienya for Ghana's industrial expansion

Speaking to Joy News on Thursday, October 15, 2026, during the IMF and World Bank Annual Meetings in Bangkok, Thailand, Dr Acheampong said Ghana’s tax-to-GDP ratio had risen from about 11.5% to nearly 13%.

“The issue is actually not more taxes,” he said, arguing that more efficient collection systems could help the government generate additional revenue without placing extra tax burdens on the public.

Dr Acheampong explained that some businesses had benefited from tax exemptions without providing adequate supporting documents, creating gaps in government revenue.

He said the government was working to address these gaps by improving the efficiency and targeting of tax collection.

“It is not more taxes, it is actually better efficiency, better targeting, better collections and then the use of systems to improve the collection,” he said.

He also stressed that raising more revenue must go hand in hand with controlling government expenditure.

According to him, stronger spending discipline is necessary to ensure public funds are used effectively to support development and improve the lives of Ghanaians.

ANAS/MA

Digital Payments Are Growing, But Regulation Must Catch Up – WAIFEM