Deloitte calls for full implementation of Independent Tax Appeals Board
Deloitte Ghana is calling for the full operationalization of the Independent Tax Appeal Board (ITAB), a move it believes will urgently address tax dispute resolution and business certainty in Ghana.
Established under the Revenue Administration (Amendment) Act in 2020, ITAB was only inaugurated in 2023, leaving a gap in the country’s tax administration framework.
In its analysis of the 2024 Mid-Year Budget, Deloitte believes that the swift implementation of ITAB will not only streamline tax dispute resolution but will boost the business environment, which is vital for fostering a stable and predictable business environment in Ghana.
In addition to ITAB, Deloitte pointed out that the proposed extension of tax incentives as a significant opportunity for economic growth.
Specifically, the professional services firm views the government’s plan to extend these incentives to private sector players partnering with the government on road construction projects as a potentially transformative move.
Deloitte also acknowledged the government’s proposal to extend tax incentives to manufacturers of two-wheeled and three-wheeled electric vehicles.
This initiative aligns with Ghana’s broader environmental goals under the Paris Agreement, promoting eco-friendly transportation options and supporting the country’s commitment to reducing carbon emissions
The government’s Mid-Year Review of the 2024 Budget Statement and Economic Policy did not propose any new taxes.
The Minister for Finance, Dr. Mohammed Amin Adam, however, announced several fiscal policy proposals that highlight the government intention to enhance revenue mobilisation and stimulate GDP growth.
Source: myjoyonline.com