Ghana holds pre-budget consultative forum

Dr Edward Larbi-Siaw, Tax Policy Advisor, Ministry of Finance and Economic Planning, has appealed to individuals and businesses to honour their tax obligations.

“It was important for all to appreciate that it was by doing this that, the government could raise adequate funds to support and sustain the country’s socio-economic development agenda.”

Dr Larbi-Siaw was speaking at the first of two pre-budget consultative forums held in Kumasi on Tuesday.

It happened to be the first-ever to be held outside the national capital, Accra.

It was organized by the Tax Policy Unit of the Finance Ministry in conjunction with the German Good Finance Governance (GIZ).

It brought together representatives from various tax firms, industry associations, development partners, consultants, Managing Directors and Chief Executive Officers (CEO’s) in the Ashanti Region.

The goal was to monitor the tax policies and determine whether or not the aim had been achieved by assessing the revenue impact and the fiscal impact on the economy.

Dr Larbi-Siaw said the inputs and contributions of the stakeholders would be considered during the preparation of the budget statement.

Mr George Owusu, Managing Director of Global Multi-Business Company limited called for intensive tax education to encourage voluntary compliance.

The meeting discussed among other things, tax reductions, tax withholding, establishment of large, medium and small tax officers in Accra and Kumasi as well as the filing of tax returns.

Source: GNA