Flagbearer for the Movement for Change, Alan Kyerematen, has outlined his vision for a better tax solution for Ghana. Apexnewsgh reports He emphasized the need for effective expenditure management, revenue optimization, and a lower tax regime to stimulate economic growth. Mr. Kyerematen’s plan involves: 1. Expenditure management and control 2. Revenue optimization 3. Lowering taxes to increase competitiveness and reduce inflation 4. Scrapping some taxes and levies 5. Implementing a progressive tax system He argued that a lower tax regime would increase revenue, as companies would become more competitive and generate more tax income. Kyerematen also stressed the importance of addressing corruption to increase revenue and reduce the need for tax increases. Regarding the IMF’s conditionalities, Kyerematen believes that Ghana has the liberty to decide how to raise revenue, and that his proposed solutions would meet the IMF’s requirements without increasing taxes. On the government’s plan to control cement prices, Mr. Kyerematen expressed reservations, citing the potential impact on the market structure and the need to address fundamental issues rather than resorting to price control. Meanwhile, Alan Kyerematen has proposed a comprehensive tax solution aimed at boosting Ghana’s economy by reducing taxes, optimizing revenue, and addressing corruption. Source: Apexnewsgh.com
