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Bastiat Slams Gov't Over Taxes

By Daily Guide
Business & Finance Dr. Tweneboah Senzu
JUL 7, 2015 LISTEN
Dr. Tweneboah Senzu

Dr. Tweneboah Senzu
Bastiat Ghana, an economy think tank, has criticized successive governments for failing to widen the tax net to rake in more revenue.

According to the think tank, its study revealed that successive governments paid lip service to the widening of the tax net in the short term.

The study, which spans 2013 to 2015, revealed that government was not happy about the amount generated from tax revenue as against its expenditure targets to address the economic challenges.

Dr. Tweneboah Senzu, Executive Director, in statement, said the major concern of Ghana has to do with the increment in taxes on already captured businesses.

This, he said, has mounted pressure on the few in the tax net, adding 'Sincerely the quality of life of most Ghanaians is depreciating due to inflation.”

Dr. Senzu said Bastiat Institute has come out with a module to increase the revenue collection of government to about 40 percent.

He said, 'Evidence from our research studies depicts that over-reliance on classical economic statistics of the trends of the Ghanaian business market could be very deceptive.

“This is due to the rapid changes and development dynamics of the market such that the identified period to depend on data trends in the economic market is statistically identified to be on monthly basis precisely, and validity could expand not beyond three months.

“Therefore our findings deduce that the force to drive the direction of the economy has to do more with behavioural studies on micro level translating into macroeconomic dynamics which leads to quality initiatives for behavioural orientations.'

By Cephas Larbi
[email protected]

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