2027 Budget: Gov't to improve revenue collection without introducing new taxes

Finance Minister Dr Cassiel Ato Forson has announced that the government will not introduce new taxes in 2027 but will focus on improving revenue collection and closing loopholes in the tax system.

He said the government would concentrate on collecting taxes already approved by law rather than imposing additional tax burdens on individuals and businesses.

Speaking during the presentation of the 2027 Budget and Economic Policy Statement to Parliament on Thursday, November 12, he said the move would be supported by reforms to make tax administration more efficient and fair.

“This 2027 Budget will not introduce any new tax,” he announced on the floor of Parliament.

Dr Ato Forson said the government would review and modernise key tax laws, including the Income Tax Act and the Revenue Administration Act, as part of efforts to improve compliance and ensure taxpayers are treated fairly.

The proposed reforms will also cover stamp duty administration and the Communications Service Tax framework.

The government will further review customs tariff concessions on selected raw materials, machinery and other inputs to support local industries.

“Our task is to collect what is lawfully due, close the leakages and make the revenue system work better,” he stated.

The Finance Minister added that the government would review Ghana's Double Taxation Agreements in line with the United Nations Framework Convention on International Tax Cooperation.

The review, he said, would help tackle tax evasion and the abuse of tax agreements while protecting legitimate investments.

He also announced plans to strengthen the resolution of tax disputes to make compliance easier and less costly for taxpayers.