Vice President Dr. Mahamudu Bawumia recently stated that the Ministry of Finance and the Ghana Revenue Authority, will be releasing a mobile application for the filing of taxes and tax assessment.
“I am happy to announce that the mobile application for the simplified filing of taxes should be ready by end of October this year. The idea is to have a mobile app where an individual or enterprise would have to input just a few pieces of information and tax due will be automatically calculated for you and you can pay on your phone and receive a receipt immediately.” he said.
The Vice President made this announcement at the launch of the Revenue Assurance and Compliance Enforcement (RACE) Initiative, designed to increase domestic revenue mobilization in order to address the economic challenges arising from the Covid 19 pandemic and make Ghana more fiscally independent.
“We have addressed the issue of the narrow tax base by making the Ghanacard number the TIN. This has increased the percentage of the adult population with a TIN from 4% in 2016 to 86% today. The question that we have is how to convert this 86% into actual taxpayers.
“A simplified flat tax payment system will provide the basis of data building at the ground level as the first step to formalizing the large segment of the informal economy. It will surely increase compliance and reduce the perception of heavy-handedness in enforcement.”