Walk the talk on tax reforms- Harry Yamson
By Isaac AIDOO, Accra
Managing Partner at Ishmael Yamson & Associates, Mr. Michael Harry Yamson, has urged the government to translate its ‘widening the tax net’ policy into action.
He insists that the government must demonstrate the political will to implement decisions that enhance the efficiency of tax collection and utilization.
Mr. Yamson emphasizes that tax reforms aimed at reducing exemptions and expanding the scope of taxable activities will not only alleviate the burden on existing taxpayers but also bring more individuals and entities into the tax net.
However, he maintains that businesses in the informal sector cannot be expected to voluntarily comply with tax regulations unless the government takes proactive measures to integrate them into the tax system.
In an interview with The New Finder, Mr. Yamson asserts, “you cannot expect the small business sector to willingly integrate itself into the tax framework of the economy.
It has to be a deliberate effort, an active decision by the government and revenue authorities.” He emphasizes the importance of political will and enabling institutions to carry out their mandates effectively.
Mr. Yamson raises concerns about corruption, highlighting how it undermines revenue collection and impedes the country’s development agenda.
He criticizes the prevalence of corruption where individuals entrusted with ensuring tax compliance often facilitate tax evasion.
Ghana faces a dual challenge of reluctance to make operational decisions and a culture of corruption and tax avoidance, according to Mr. Yamson.
He calls for a bipartisan approach to revenue-related issues, stressing the need for major political parties to collaborate and support each other, regardless of whether they are in or out of government, to ensure effective management of the nation’s revenue.
