• VIDEOS
  • About
  • Contact
  • Despite Media
Ghana Election 2020
  • Home
  • Election 2020 Results
  • Local News
  • Politics
  • Showbiz
  • Sports
  • Business
  • Opinion
  • VIDEOS
  • Media
    • Videos
    • Audio
    • Photos
Local News
 
 
 
Home Business Economy 202002

Taxpayers In Ghana To Hit 16 Million By Close Of The Year - Veep

11-Feb-2020
/ Economy, Business
Email
Print
Comments 1
Dr Mahamudu Bawumia
(1)
Comments
Share on Facebook Share on Twitter
 

Vice President Dr Mahamudu Bawumia says the introduction of various digital initiatives by government will widen the tax net and increase the number of taxpayers from about two million contributors to 16 million by the end of 2020.

In this vein, government would soon convert all national identity numbers into tax identification numbers to increase the number of people registered by the Ghana Revenue Authority (GRA) to pay taxes in the country.

Dr Bawumia reiterated government’s commitment to leveraging on technology to overcome many of the country’s developmental challenges and formalise the economy, explaining that, the national identification cards would help in verifying income sources of individuals and capture them into the tax net.

For instance, he said, the ID cards would help in establishing the identity of citizens while the digital addressing system would establish the identity of properties, which would create a rich and credible database, not only for effective public administration but also benefit the private sector.

Vice President Bawumia said in a keynote address in Accra on Monday when he officially unveiled Absa Ghana Limited, marking a transition from Barclays Ghana Limited after over 100 years of operation in Ghana.

The database, he said, would be available to banks, rating agencies, revenue authorities, among others, which would facilitate revenue mobilisation drive and inform decision-making by both public and private institutions.

The event brought together key stakeholders in the banking and financial sector, including the Governor of the Bank of Ghana, Dr Ernest Addison and his two deputies and captains of industry as well as customers and clients of Absa Ghana Limited.

Vice President Bawumia commended Absa for supporting Ghana’s bid to host the African Continental Free Trade Agreement (AfCTA) Secretariat and believed that AfCTA would facilitate continental free trade and build a prosperous Africa.

“I urge Absa to continue to play a major role in Ghana’s development agenda solely anchored on Ghanaian economy for over 100 years. We will continue to partner and collaborate with you, and urge the Business Community to also do same. So together, we can create a prosperous nation,” he assured.

Dr Bawumia announced that the Bank of Ghana will next month launch the Universal QR Code, which would make it possible for all retailers to receive payments on their mobile phones without having the point-of-sale device and make Ghana the first African nation to have the payment system.

For his part, Mr Daniel Mminele, the Chief Executive Officer of Absa Group Limited, described the unveiling of Absa in Ghana as a great milestone, which marks the first of its regional operation in Africa.

He pledged the Bank’s commitment towards supporting the transformation and economic growth of Ghana and Africa in general.

The Bank will continue its strategic initiatives to unlocking the economic potential of the nation in areas of agriculture, energy and agribusiness, as well as small and medium scale enterprises, to better the lots of the people, Mr Mminele assured.

Source: GNA

 

 
 

 

Comments ( 1 ): Post Your Comments >>

Disclaimer: Opinions expressed here are those of the writers and do not reflect those of Peacefmonline.com. Peacefmonline.com accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority.
Featured Video
Previous Post

Ghana Stock Exchange And London Stock Exchange Sign Mou

Next Post

Bank Of Ghana Award Vindicates President Akufo-Addo - Carlos Ahenkorah

 
 

More Stories

Ghana To Face Serious Economic Challenges This Year —Kenneth Thompson
Less Than 2 Million Ghanaians Pay Tax
126 Private Schools Fold Up Over COVID-19
COPEC Predicts 5% Increase In Fuel Prices
Africa Seeks Debt Cancellation, New Paradigm In World Economic Order
EU’s Money Laundering List: Govt Takes Action Towards Country’s Exit In 2021
Gov’t To Hold Nation Building Updates On Rebuilding Of Economy
Parliament Passes Petroleum Hub Bill
GIPC Quarterly Investment Report Holds Good Prospects For Ghana
Next Post

Bank Of Ghana Award Vindicates President Akufo-Addo - Carlos Ahenkorah

  Ghana Business News

  • General News
  • Economy
  • Banking & Finance
  • Stock Market
  • Industry/Manufacturing


 
 

Other Economy Stories

  • Ghana To Face Serious Economic Challenges This Year —Kenneth Thompson

  • Less Than 2 Million Ghanaians Pay Tax

  • 126 Private Schools Fold Up Over COVID-19

  • COPEC Predicts 5% Increase In Fuel Prices

  • Africa Seeks Debt Cancellation, New Paradigm In World Economic Order

  • EU’s Money Laundering List: Govt Takes Action Towards Country’s Exit In 2021

  • Gov’t To Hold Nation Building Updates On Rebuilding Of Economy

  • Parliament Passes Petroleum Hub Bill

  • GIPC Quarterly Investment Report Holds Good Prospects For Ghana

  • Gov't Revives Affordable Housing Scheme

 

 
 

Popular Videos

Election Petition: Why Is Justice Anin Yeboah Part Of Supreme Court Panel – NDC Chairman Queries

Mzbel "Defrauded" By Traditional Court "Judge"…Says She Feels “So Embarrassed”

Election Petition: EC, Akufo-Addo Singing The Same Song…But Justice Will Be Served

Your Response To Keche Was Childish - Mzbel Scolds Wendy Shay

Prez Nana Addo Will Name His Minsters This Week – KON Hints

You've Done Well But Compensate Crime Officer - Arnold Advices Ogidi Brown

Peace FM Online and Despite Media

peacefmonline.com offers its reading audience with a comprehensive online source for up-to-the-minute news about politics, business, entertainment and other issues in Ghana

Follow us on social media:

Category

  • Home
  • Local News
  • Politics
  • Showbiz
  • Sports
  • Business
  • Opinion
  • Trivia
  • Foreign
  • Audio
  • Photos
  • Videos
  • Elections
Decision Time
Ghana Election 2020 2016 Elections
Services
Online Radio Audio on Demand Ghana Elections Advertise with Us
Useful Links
Despite Media About Us Contact Us Feedback Form Terms and Conditions Privacy
Our Brands
Despite Media UTV Peace FM Okay FM Hello FM Neat FM Peacefmonline
  • About
  • Advertise
  • Terms & Conditions
  • Contact
  • Privacy

© 2020 Peacefmonline.com - An online portal owned and managed by Despite Media

  • Home
  • Local News
  • Politics
  • Showbiz
  • Sports
  • Business
  • Articles
  • Trivia
  • Foreign
  • Photos
  • Videos
  • Audio
  • Election 2020

© 2020 Peacefmonline.com - An online portal owned and managed by Despite Media