Ghana’s tax system is under scrutiny, with Mr. Samuel Amegayibor, Executive Director of Greda-Ghana, calling for a standardized system. He emphasizes the need for everyone, including public, private, and self-employed individuals, to contribute their fair share.
Amegayibor specifically highlights the case of masons, who often evade taxes despite their crucial role in Ghana’s development.
To address this issue, Amegayibor proposes the development of standard rates for masons, taking into account factors like block or concrete crust type.
He also suggests establishing a standard daily labor rate, regulated by the government, to facilitate tax deductions from daily payments.
Amegayibor’s concerns about Ghana’s tax system are not unfounded. In the real estate sector, for instance, funding is a major hurdle, with interest rates ranging from 20 to 24 percent and a lack of long-term funding options.
A standardized tax system could help alleviate some of these challenges.
By implementing a fair and transparent tax system, Ghana can ensure that everyone contributes their fair share, promoting economic growth and development. As
Amegayibor’s proposals gain traction, it will be interesting to see how the government responds to the call for a standardized tax system.
Story by: Ohemaa Adusi-Poku
