• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Former Finance Minister Urges Digitalization to Achieve 18% Tax-to-GDP Ratio This Year

7 months ago
in Business, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
206
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Former Finance Minister Urges Digitalization to Achieve 18% Tax-to-GDP Ratio This Year

The immediate past Finance Minister, Dr. Mohammed Amin Adam, has urged his successor, Dr. Cassiel Ato Forson, to leverage digitalization to achieve Ghana’s projected 18% tax-to-GDP ratio by the end of 2025 instead of the initial target of 2027.

Speaking in Parliament, Dr. Amin Adam highlighted the previous administration’s strides in tax revenue collection, increasing the tax-to-GDP ratio from 13.8% in 2022 to 17% by the end of 2024.

He asserted that an additional 1% increase within a year is feasible, given past performance and existing digital revenue collection tools.

“I want to invite the new Minister for Finance to continue to pursue these policies and measures to achieve the tax-to-GDP ratio of 18% this year and not 2027. If we have increased it by 3.2 percentage points from 2022 to 2024, achieving 1 percentage point more should be possible,” he stated.

Digitalization as a Revenue Driver

Dr. Amin Adam credited digitalization initiatives for the significant revenue growth, citing the Ghana.gov payment platform, the Electronic Invoicing for VAT (E-VAT), and the Integrated Customs Management System as key enablers.

RelatedPosts

BoG’s New FX Rules Offer Short-Term Stability but Risk Repeating Nigeria, Kenya Mistakes if FX Controls Persist – Dr. Dumanya

Government Cuts Black Stars Budget by Over $732,000 for Upcoming World Cup Qualifiers Against Chad and Mali

Africa’s Road to the 2026 World Cup Heats Up As Qualifiers Resume Today

He noted that these platforms enhanced revenue collection and compliance, boosting tax revenue from GHS 75 billion in 2022 to GHS 154 billion in 2024.

To sustain revenue growth, he emphasized the need for continued investment in digital tax collection systems, particularly the implementation of the I-Tax system, designed to automate tax processes and improve efficiency.
Support for Local FINTECH Firms

The former minister also called for government support for local financial technology (FINTECH) companies, advocating for the use of domestic digital solutions rather than foreign providers.

“I want to encourage them to develop a local content policy that ensures local FINTECH companies play a greater role instead of outsourcing these solutions abroad,” he said.

 

Tags: 18% Tax-to-GDP Ratioformer Finance MinisterFormer Finance Minister Urges Digitalization to Achieve 18% Tax-to-GDP Ratio This Year

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

US Open: Alcaraz Advances to Semifinals; Sabalenka Set for Rematch with Pegula

GSE Composite Index Dips as MTNGH Extends Decline; TOTAL Posts First Gain in Over a Month

Chamber of Mines Pushes for Longer Stability Agreements to Safeguard Ghana’s Mining Competitiveness

Why Shorter Mining Leases Could Cost Ghana Big Projects and Jobs

Gold Price Hits Record High as Investors Seek Safety

Nigeria: Forex Traders Say Chinese Traders Now Collecting Naira Instead of Dollars

Trending

Banking & Finance

BoG’s New FX Rules Offer Short-Term Stability but Risk Repeating Nigeria, Kenya Mistakes if FX Controls Persist – Dr. Dumanya

September 3, 2025

BoG’s New FX Rules Offer Short-Term Stability but Risk Repeating Nigeria, Kenya Mistakes if FX Controls Persist...

Government Cuts Black Stars Budget by Over $732,000 for Upcoming World Cup Qualifiers Against Chad and Mali

September 3, 2025

Africa’s Road to the 2026 World Cup Heats Up As Qualifiers Resume Today

September 3, 2025

US Open: Alcaraz Advances to Semifinals; Sabalenka Set for Rematch with Pegula

September 3, 2025

GSE Composite Index Dips as MTNGH Extends Decline; TOTAL Posts First Gain in Over a Month

September 3, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.