Government to reintroduce integrated property tax system – Minister of Finance

The Minister of Finance, Dr Mohammed Amin Adam, has announced that the government plans to reintroduce the integrated property tax system by consolidat­ing data from various government agencies.

This initiative aims to establish a comprehensive digital property record database, which will revolu­tionise property data management and improve the efficiency and ac­curacy of the property tax system.

Additionally, discussions will be conducted to consider providing incentives to institutions that sur­pass their revenue targets in order to enhance revenue mobilisation by IGF-reliant Covered Entities.

Speaking during the presenta­tion of the 2024 Mid-year Fiscal Policy Review to Parliament on Tuesday, he said the ministry would continue the deployment of the Ghana.Gov Payment Platform to remain­ing public institutions and ensure that all those already on board went live.

Additionally, the outstanding activities for the full rollout and utilisation of the GIFMIS for the processing of IGF expenditures will be completed by the end of the year.

He said the government would develop a framework for the re-in­troduction of road and bridge tolls to facilitate the processes for the implementation of a modernised and efficient road and bridge tolling system commencing in 2025.

Dr Amin said for the rest of the year, the Ministry of Finance would deepen engagements with both GRA and relevant stake­holders to effectively implement policy, administrative and regulatory measures to ensure that the revenue targets are met.

He said that to broaden the tax base, a simplified digital solution for the operationalisation of the modified taxation scheme and an electronic bookkeeping system would be deployed.

Additionally, 2,000 more taxpay­ers would be added to the electron­ic invoicing system (e-VAT) by the close of the year.

He said GRA would continue with the cleaning of the taxpayer register and on-board more tax­payers onto its electronic systems to improve the taxpayer experience and compliance.