IRS collects huge tax

Accra, July 6, GNA - The Internal Revenue Service (IRS) had by the end of June collected more than 600 billion cedis, representing about half of the projected target of 1.2 trillion cedis for the 2000 fiscal year, Mr David Adom, Commissioner of IRS said on Thursday. "The good beginning is an indication that we could exceed our target if we remain committed" he said at the fourth biennial congress of the Senior Staff Association (SSA) of the Service in Accra.

The congress under the theme, "Optimum Revenue Mobilisation - The Human Factor" is held to initiate and formulate policies to promote the welfare of staff and make suggestions to management to enhance the productivity. Mr Adom noted that the turbulence in the economy as a result of declining revenue from the country's main exports in the face of rising oil prices demands that the country looks inwards to generate more revenue to offset shortfalls that will enable it to carry on with its development efforts.

He said maximising the gains of tax revenue, however, depends on the motivation of the staff of the revenue agencies and a good tax law that would make evasion difficult and ensure voluntary compliance.