World Bank/ IMF Experts Coming

Experts from the World Bank and the International Monetary Fund (IMF) are due in the country this week to help draft policy that will integrate all the revenue collection agencies into one body to enhance tax administration.

Officials expect the document to be ready in May 2009 when it will be presented to Cabinet and then parliament for approval into law by July.

The Executive Secretary of the Revenue Agencies Governing Board (RAGB), Mr Samuel Sallas-Mensah, who disclosed this to the Daily Graphic, said that the move forms part of the government’s quest to begin the implementation of an integrated tax administration system.

He said, the integrated system will minimise the cost tax collection and reduce the level of evasion in the system to raise more revenue for development projects.

On the filing of tax returns, particularly by workers, Mr Sallas-Mensah said, there will be a critical review of the procedure and yields from the filing of tax returns to make it much more flexible and attractive to entice many people to file for it annually.

According to him, the procedure for filing for the returns is not only cumbersome but also highly unattractive and noted that considering the amount of taxes deducted from the salaries of workers every month, something substantial needs to be given in return at the end of the year.

On tax evasion, the Executive Secretary said, the board is to marshal all the legal prowess at its disposal to deal with those involved.

Against that background, Mr Sallas-Mensah said, the board will fast-track the setting up of tax tribunals to deal with all those found at the wrong side of the law.

He said, the era of such evasions is over and that the board will ensure that the fraudulent activities of such companies become unattractive.

Source: Daily Graphic