OBG to help simplify Ghana’s tax system

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Sat, 15 Dec 2018 Source: thefinderonline.com

A forthcoming report by the global research and consultancy firm, Oxford Business Group (OBG), will explore Ghana’s plans to simplify its tax system as part of a broader bid to boost revenue.

With digitisation expected to play a key role in the country’s tax reforms, The Report: Ghana 2019 will shine a spotlight on the raft of measures currently being considered, which range from the introduction of tax identification numbers and ID cards to a digital address system.

OBG’s report will also examine the challenges that the government faces in its bid to increase income, which along with the current narrow tax base, include fluctuating commodity prices and a high civil service payroll.

PwC has signed a first-time memorandum of understanding (MoU) with OBG for its 2019 publication. Under the MoU, the firm’s representatives will help OBG to produce the Tax Chapter of The Report: Ghana 2019.

George Kwatia, Tax Partner at PwC, said that the decision by Ghana’s government to make domestic revenue mobilisation a priority had heightened the need for investors to ensure they were up to date with changes to the country’s tax system.

“Oxford Business Group has a long record of providing highly accurate and informative research on the Ghanaian economy,” he said. “We at PwC are very much looking forward to embarking on this new partnership with its team and helping the Group’s readers to navigate Ghana’s tax framework as they consider their investment decisions.”

Welcoming PwC on board, OBG’s Regional Editor for AfricaSouhirMzali agreed that with Ghana’s capital expenditure plans advancing, the government was inevitably sharpening its focus on revenue collection and fiscal discipline.

“While broadening the tax base will be a primary target, the good news for businesses is that the administration has also signalled its wish to make the local tax system more straightforward,” she said. “With these and many other legislative changes in the pipeline, I’m delighted that our research team will benefit from PwC’s expertise and in-depth knowledge as we begin work on this important publication.”

The Report: Ghana 2019 will mark the culmination of more than 12 months of field research by a team of analysts from Oxford Business Group. It will be a vital guide to the many facets of the country, including its macroeconomics, infrastructure, banking and other sectoral developments.

The publication will also contain contributions from leading personalities, including Kwatia, Ken Ofori-Atta, Minister for Finance, and Michael Okyere Baafi, CEO, Ghana Free Zones Board.

It will be produced with the Ghana Investment Promotion Centre, the United Kingdom and Ghana Chamber of Commerce, the Association of Ghana Industries and STANLIB. The report will be available online and in print.

Source: thefinderonline.com
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