The Food and Beverages Association of Ghana has called on government to scrap the numerous tax exemption policies and review some taxes to boost revenue.
Speaking on Joy Business Social, the Executive Chairman of the association, John Awuni, remarked that the country could rake in more revenue than projected in the three revenue measures approved by parliament as part of the IMF conditions.
This call comes on the back of the passage of the three new tax bills by parliament to further boost domestic revenue.
“Cut of all exemptions, the exemptions alone could raise over ¢2 billion. It is not in the national interest that a country in crisis will still grant tax exemptions to individuals and companies. Let government cut all exemptions” he added
He also called on government to be ingenious and find other means of expanding the tax net instead of deepening it further.
On ensuring fiscal discipline, Mr. Awuni admonished government to demonstrate burden sharing by cutting wasteful expenditure, as well as reduce the number of government appointees.
This, he believes is a prudent measure of freeing up funds to boost revenue.
“I will suggest to the president of Ghana to apply fiscal discipline by cutting your coat according to your cloth. You cannot say the economy is in crisis, you cannot call for a revenue boost while you continue to do the same thing. Cut your expenditure. “
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