Banking consultant and financial analyst, Dr. Richmond Atuahene, has called on the government to introduce an equitable property tax system to address tax evasion and boost revenue generation in Ghana.
Speaking on ABC News GH, Dr. Atuahene highlighted the inefficiencies in Ghana’s tax system, emphasizing the need for reforms to improve the country’s tax-to-GDP ratio, which currently lags at 12%, well below the Sub-Saharan African average of 16%.
Dr. Atuahene pointed to successful examples from countries like Kenya and Uganda, which overcame similar challenges by implementing equitable property tax systems.
“Today, they are generating as close as $2 to $3 billion in property taxes,” he noted, stressing that Ghana could achieve similar success.
He lamented the growing economic disparity in the country, saying, “The poorer are getting poorer, and the richer are getting richer,” and urged the government to act swiftly to bridge this gap through progressive tax reforms.
He also criticized the slow pace of tax administration reforms and the outdated technology at the Ghana Revenue Authority, which hampers effective tax collection.
Drawing comparisons with Rwanda and Kenya, which have modernized their systems, Dr. Atuahene urged Ghana to adopt advanced technology and robust data management systems to improve compliance.
He cautioned against focusing on tax cuts without addressing these systemic inefficiencies, warning that such measures could further strain Ghana’s fragile economy and undermine its long-term fiscal stability.
