Ghana has received a Master Plan for Tax Modernisation designed to expand the country’s tax base and strengthen domestic revenue mobilisation as part of broader efforts to improve fiscal sustainability.
Developed with support from the Korea International Cooperation Agency (KOICA), the plan outlines reforms aimed at improving tax compliance, digitising tax administration and strengthening public financial management.
The plan was formally handed over to the Ministry of Finance in Accra by the Ambassador of the Republic of Korea to Ghana, Park Kyongsig, who reaffirmed Korea’s commitment to supporting Ghana’s public finance reforms.
A release copied to the Ghana News Agency indicates that the proposed reforms will make it easier for taxpayers to comply with their obligations through digital services, simplified procedures and improved taxpayer support.
A key component of the plan is the expansion of the tax net to cover more businesses and individuals in the informal sector, which remains a significant source of economic activity outside the formal tax system.
The framework also proposes reforms to income tax and Value Added Tax (VAT) policies, alongside the digitisation of tax administration and the development of a data-driven intelligent tax system.
According to the plan, the measures are intended to increase domestic revenue, improve administrative efficiency and strengthen Ghana’s fiscal position by creating a more modern and transparent tax system.
Park Kyongsig said Korea’s own economic development experience demonstrated the importance of an efficient and transparent tax administration system in supporting sustainable economic growth.
He expressed confidence that the Master Plan would contribute to Ghana’s ongoing reform agenda and assured that Korea would continue working with the government to translate its recommendations into concrete policy measures and improvements in tax administration and public service delivery.
Deputy Finance Minister Thomas Nyarko Ampem welcomed the completion of the plan and expressed appreciation to the Korean government for its continued support for Ghana’s tax administration and public financial management reforms.
The Master Plan was developed with technical input from the Korea Institute of Public Finance (KIPF), with officials from the Ministry of Finance, the Ghana Revenue Authority and other stakeholders participating in the handover ceremony.