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Bawumia Speaks: We will simplify our complicated tax systems and VAT regimes – Dr. Bawumia

The Vice President and flag bearer for the New Patriotic Party(NPP), Dr. Mamudu Bawumia has said when he’s voted into power in the 2024 election, his administration will simplify the complicated tax systems and VAT regimes. 

He made this statement on Wednesday, 7th February 2023 at the UPSA auditorium while speaking for the first time after being elected as the flag bearer for the New Patriotic Party,

He stated that his administration would introduce a tax amnesty, the exemption of tax payments for years, and forgoing penalties for individuals and business failures to file taxes in previous years. 

“To start a new tax system on a clean slate, my government will provide a tax amnesty. That is, a complete exemption from payment of taxes for a specific period and saving the interest and penalties up to a certain year to individuals and businesses for failures to file taxes in previous years so that everybody will start afresh”- Bawumia said

According to him, tax digitalization will be implemented where no one would have to go to offices to pay taxes but will do so easily on their mobile phones. The GRA assessment will also be done electronically to promote transparency and accountability. 

“Tax digitization will be implemented across all aspects of tax administration. Everyone would be required to file a very simple tax return electronically, through their mobile phones or computers. There will be no paper or manual filing of taxes under my administration. Assessment by GRA will also be faceless. Faceless assessments will provide transparency and accountability”- he added. 

He also added that any audit by GRA will be done electronically and faceless. It will be needless for officers to sit at shops to audit. No entity will be audited more than once in five years unless anomalies are detected with the individual or company.

Story by Sally Ama Quaicoe

Nene Odompleh
Nene Odomplehhttp://www.the1957news.com
The founder of the1957News, a Ghanaian news and entertainment website. He has years of experience in online publishing and content creation and has built a successful online news agency through apt content coverage, timely reporting, and attention to accuracy.
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