{"id":291168,"date":"2025-11-18T14:39:12","date_gmt":"2025-11-18T14:39:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/291168\/"},"modified":"2025-11-18T14:39:12","modified_gmt":"2025-11-18T14:39:12","slug":"gra-declares-2026-year-of-compliance-as-experts-put-spotlight-on-jobs-growth-2","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/291168\/","title":{"rendered":"GRA declares 2026 ‘year of compliance’ as experts put spotlight on jobs, growth"},"content":{"rendered":"

The Acting Commissioner-General of the Ghana Revenue Authority<\/a> (GRA), Anthony Sarpong, has declared 2026 as \u201ca year of compliance\u201d as government agencies, development partners and private sector leaders gathered for the KPMG Post-Budget Forum to discuss the 2026 Budget Statement. <\/p>\n

Speaking as Special Guest of Honour, Sarpong said the authority\u2019s focus for the year aligns with national objectives of \u201cgrowth, innovation and transformation,\u201d stressing that \u201cLet us all please comply so that we can build Ghana together.\u201d<\/p>\n

Sarpong noted that the GRA remains committed to building a fair and trusted tax system, explaining that the authority is deepening transparency in enforcement and will continue to treat taxpayers with respect. <\/p>\n

He also announced that the long-delayed Independent Tax Appeals Board (ITAB) is finally set to be operationalised after five years. <\/p>\n

According to him, \u201cThe regulations for the Independent Tax Appeals Board have been passed,\u201d a development he says will speed up the resolution of tax-related disputes so that \u201cwe don\u2019t have to wait three, four, five years\u201d before matters are addressed. <\/p>\n

KPMG Ghana\u2019s Country Managing Partner, Andy Akoto, said the firm\u2019s annual BRICS Budget Survey continues to provide evidence-based insights that shape national policy. <\/p>\n

He explained that the survey captures concerns from businesses across sectors so that policymakers can better understand how economic policies affect their operations. <\/p>\n

Akoto further stated that it was encouraging that the themes highlighted by the private sector, including access to affordable finance, tax reforms, workforce skills development, energy reliability, and green tax incentives, \u201chave mostly been incorporated into the 2026 budget presentation.\u201d <\/p>\n

Complex Tax Processes, Low Morale: GRA moves to fill gaps in Ghana’s tax system<\/a><\/p>\n

He described this year\u2019s budget theme, ‘Resetting for Growth, Jobs and Economic Transformation,’ as timely, adding that the conversation must now focus on how government can translate policy commitments into tangible outcomes. <\/p>\n

Delivering a speech on behalf of Finance Minister Dr Cassiel Ato Forson, Samuel Akhurst highlighted the evolution of Ghana\u2019s national budgets over the decades, noting that the shift in 1986 from a simple budget statement to \u201cBudget Statement and Economic Policy\u201d reflected the deeper role budgets play in economic direction. <\/p>\n

He pointed to the 2026 theme\u2019s three pillars of growth, jobs and transformation as central to national progress. <\/p>\n

Akhurst explained that GDP remains a key measure of economic health, even though \u201cit has its flaws as far as poverty is concerned.\u201d <\/p>\n

He emphasised that the budget\u2019s major infrastructure ambitions, including mega-projects such as the construction of a 1,300MW power plant, represent \u201ccatalytic investments\u201d capable of shifting Ghana\u2019s economic trajectory. <\/p>\n

He added that jobs remain essential to citizen welfare, saying that \u201cGDP without it affecting the people is meaningless,\u201d and that economic transformation efforts, including the green transition, will shape the future development path.<\/p>\n

UNDP Resident Representative, Niloy Banerjee, underscored the urgent need to reduce the cost of doing business in Ghana, especially for micro, small and medium enterprises. <\/p>\n

He observed that high interest rates undermine private sector growth and job creation, stating that \u201cthe cheapest SME loan is 70% interest,\u201d a situation he described as unsustainable. <\/p>\n

Banerjee cautioned that Ghana cannot generate enough jobs for its growing youth population unless policy reforms significantly lower these costs. <\/p>\n

He appealed to the government to introduce mechanisms that de-risk private sector investment, including taking on first-loss positions for startups, arguing that \u201cif this can be done, we will have a thriving culture of startups.\u201d<\/p>\n

From academia, Senior Lecturer at the University of Ghana\u2019s Economics Department, Professor Priscilla Twumasi Baffour, offered a critical review of the tax changes outlined in the budget. <\/p>\n

She emphasised that poorer households continue to bear a heavier tax burden relative to income, noting that \u201cthey pay more of their incomes in taxes than the rich.\u201d <\/p>\n

While acknowledging the reduction in the VAT rate by 1.9% to 20%, she noted that \u201c20% is still high\u201d and welcomed GRA\u2019s efforts to improve compliance. <\/p>\n

She expressed optimism about the modified tax schemes for SMEs, stressing that many informal sector businesses operate without paying taxes. <\/p>\n

However, she warned that improved compliance must actually materialize to meet revenue expectations.<\/p>\n

SP\/AE<\/p>\n

All you need to know about Ghana’s new vehicle number plates |BizTech:<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"The Acting Commissioner-General of the Ghana Revenue Authority (GRA), Anthony Sarpong, has declared 2026 as \u201ca year of…\n","protected":false},"author":2,"featured_media":290867,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[45,49,48,46],"class_list":{"0":"post-291168","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-ca","10":"tag-canada","11":"tag-economy"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/291168","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=291168"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/291168\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/290867"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=291168"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=291168"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=291168"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}