He spoke to GhanaWeb Business in parliament ahead of the presentation of the 2024 by the Minister of Finance.
“We can increase our royalties to 10% and we can rake in an average of GH¢8 billion cedis. I have made a proposal and I think most economists agree with me. Number 1 is tax exemptions, we are giving too many tax exemptions and the cost of tax exemptions is about 1.5% of GDP, amounting to about 13 billion.
“Government can raise some money from there. The tax from the income of the informal sector amounts to about 1% of GDP that’s about 8 billion. We can get some Property tax is about 2% of GDP, that is giving us about 18billion. Put all this together and you get about 50 billion that can be realized in the short to medium term,” he said.
SSD/NOQ
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Ghana’s leading digital news platform, GhanaWeb, in conjunction with the Korle-Bu Teaching Hospital, is embarking on an aggressive campaign which is geared towards ensuring that parliament passes comprehensive legislation to guide organ harvesting, organ donation, and organ transplantation in the country.