“We Don’t Need New Taxes” – Prez Mahama Outlines Revenue Strategy

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President John Mahama says government is shifting its focus from introducing new taxes to improving the efficiency of revenue collection.

Speaking during a courtesy call by the Kwahu Business Advocacy Group at the Jubilee House, President Mahama said government has already removed some nuisance taxes and reduced Value Added Tax (VAT), while efforts are ongoing to rationalise other taxes.

He explained that a more efficient tax collection system will help increase government revenue without placing additional burdens on citizens.

President Mahama added that if revenue mobilisation improves significantly over the next few years, government could consider reducing the corporate income tax rate to allow businesses retain more capital for reinvestment and expansion.

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