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Stop meddling with VAT – Seth Terkper to government

Former Finance Minister, Seth Terkper, has entreated the government to strengthen the Ghana Revenue Authority through tax modernization to help it expand the tax net.

Speaking to Metro TV in an interview, Mr. Seth Terkper noted that Ghana needs tax variations indicating that it was an action the country was doing in the past.

“We need tax reforms, even if we don’t want to go far back. We’ve been doing tax reforms,” he said.

He noted that late President Mills provides an example because he was an authority on tax issues at the time.

“That’s why we have President who was doing tax reforms. Professor Mills was a Commissioner of IRS,” he indicated.

Mr. Terkper said it was prudent to emulate the steps previously undertaken by the late president. “And so we should just do whatever we’ve been doing in the past.”

The former Finance Minister advised the government to avoid overlying on the Value Added Tax element as the main revenue base and innovate cautioning that people can find their way around it.

“When I say do what we have to do is to stop meddling with taxes like VAT, and the rest, because, if you meddle with them, there are people who will evade or avoid,” he stressed.

He urged the government to empower the country’s revenue institution to add some renewal to our tax system, emphasizing that leadership can just follow what was already in existence.

“Strengthen GRA for the tax modernization program. I think it’s after five years and some of it is now going to be done.”

“We are not asking for a reinvention of the wheel. We are asking for doing old things and some more innovative things,” he added.

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