Ghana turns to domestic taxes to finance development over money market woes
By
Jonas Nyabor
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Posted on
January 18, 2022 15:05
Limited access to the international money market has forced managers of Ghana’s economy to look inwards for much needed revenue to finance its development. Finance minister Ken Ofori-Atta now says raising money from domestic taxes is the way to go.
The hard part: finding ways to convince millions of untaxed people in Ghana to contribute to the national kitty.
Only 8.2% of working Ghanaians pay income tax according to Ofori-Atta, who is developing ‘burden sharing’ strategies to pull the rest in.
“Only 2,364,348 are bearing the burden of the entire population as taxpayers as of August 2021. This is a trend that needs to be addressed to build a