For the government to realize more revenues for its policies and programs and to get the economy out of the current crisis it finds itself in, there is the need to pay particular attention to digitalization and digitization, according to the economist, Dr. Adu Owusu Sarkodie of the Department of Economics, University of Ghana.
“Government can get so much revenues if it leverages on digitalization and digitization. Marry digitization and revenue collection to ensure revenue leakages” he said.
“Tax certificates must be presented before essential services like passports, drivers licenses, etc are acquired” he added.
Dr. Sarkodie also pointed out the tax sectors that are growing fast. He mentioned the service, industrial and agric sectors as areas that would give the government so much revenue.
He also urged the government to focus on some key revenue generation sources.
“Property rates and tax exemption bill should be accelerated. Property rates can rake in GHC16 billion annually. 8 billion can also be realized from the informal sector” he opined.
Tax exemptions, he observed, can be cut by GHC5 billion to help reduce pressures on the government’s finances.
Dr. Sarkodie expressed these sentiments during the Danquah Institute’s Economic Forum at the ISSER building at the University of Ghana, Legon, on Friday, the 9th day of December 2022.
Dr. George Domfeh, Dr. Kwadwo Opoku with Professor Eric Osei Assibey as chairman, also attended the forum.
Source: Peacefmonline.com/Ghana
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