AGI To Launch Guide On Tax Laws Today

The Association of Ghana Industries (AGI) will today unveil a book containing all the tax laws in the country.
The motive for the compilation of all the tax laws was to make it easier for entrepreneurs to access the laws, understand and also comply with them.

It was a fallout from the Business Climate Survey 2007, in which the 451 respondents countrywide identified tax procedures as the 13th challenge.

AGI President, Mr Tony Oteng-Gyasi, said the AGI Guide on Ghana Tax Laws was a culmination of an appraisal of the country's taxation laws which had also revealed increased room for tax reforms in the country.

The Minister of Finance and Economic Planning, Mr Kwadwo Baah-Wiredu, is said to be one of the speakers at today's launching ceremony alongside other guests from the Revenue Agencies Governing Board as well as its three agencies, the Value Added Tax Service (VATS) , the Internal Revenue Service (IRS) and the Customs, Excise and Preventive Service (CEPS).

The association wants the tax system to be simpler, less cumbersome and easier to understand so as to enhance tax compliance.

“This will also enhance the government's own revenue generation as it will be simple and bolster compliance,” Mr Oteng-Gyasi said.

He said during the year, the association would hold a series of tax seminars and workshops with stakeholders and revenue agencies, with local and foreign tax experts as resource persons.