Dr. Ishmael Yamson, Chairman of the National Economic Dialogue, has cautioned the government against imposing additional taxes, emphasizing that Ghana’s economic recovery relies on fiscal discipline and effective resource management. Apexnewsgh reports
Speaking on TV3’s Hot Issues program monitored by Apexnewgh, Dr. Yamson stressed that overtaxing the same segment of society will hinder economic growth.
“You can’t keep increasing taxes on the same people and expect the economy to grow,” he said. “We need to be disciplined in how we manage the resources we already have.” Dr. Yamson pointed out that Ghana’s primary issue is not low revenue collection, but rather poor management and misuse of public funds.
According to Dr. Yamson, the current tax system is flawed, allowing wealthy individuals and large businesses to avoid paying their fair share. He advocated for a digitized revenue collection system to reduce tax evasion. “There are people in this country making millions but not paying taxes because the system allows it,” he noted.
Dr. Yamson also emphasized that struggling businesses cannot be taxed into prosperity. Instead, he urged the government to create an environment that fosters business growth and expands the tax base. “You can’t tax struggling businesses into prosperity,” he advised. “The government must make the economy work so that more people and companies can contribute their fair share.”
In conclusion, Dr. Yamson warned that excessive taxation is not the solution to Ghana’s economic challenges. “We don’t need more taxes; we need discipline,” he said. “If we fail to manage our resources wisely, no amount of taxation will fix this country.”
Source: Apexnewsgh.com
