Accra: Dr Martin Kolbil Yamborigya, the Acting Commissioner of Domestic Tax Revenue Division of the Ghana Revenue Authority (GRA), has reiterated the agency's dedication to implementing reforms aimed at addressing tax leakages and compliance gaps
According to Ghana Web, Dr Yamborigya highlighted a significant collection shortfall, with an estimated 67 percent tax gap for income tax and a 61 percent tax gap for Value Added Tax (VAT).
Dr Yamborigya discussed measures such as the introduction of e-invoicing and raising the VAT registration threshold from GHS200,000 to GHS750,000 annually. These changes are expected to encourage micro businesses to enter the tax net and ensure a more equitable distribution of tax burdens. His remarks were made during the 'Executive Business Dialogue' in Accra, organized by Makers and Partners (MAP), an international business consultancy firm.
The dialogue served as a platform for business leaders, experts, and stakeholders to engage in informed discussions on tax and fiscal reforms, focusing on building resilient and sustainable Small and Medium Enterprises (SMEs). Dr Yamborigya emphasized the importance of businesses registering and paying taxes to enable Ghana to mobilize sufficient domestic resources.
He announced that the GRA plans to launch the National Compliance and Enforcement Team to enhance VAT collection and combat tax evasion, aiming to ensure parity. Commissioner of Police (COP) Maame Yaa Tiwaa Addo-Danquah, an Associate Partner-Advisory at MAP, also highlighted the critical role of SMEs in Ghana's economy, noting the untapped potential of SME tax compliance as a source of revenue.
COP Addo-Danquah pointed out MAP's expertise in advisory, tax services, audit assurance, and accountancy, which support businesses in navigating tax reforms. Professor Patrick Asuming of the University of Ghana Business School emphasized the need for careful consideration of the 2026 Budget to promote value addition and industrialization, advocating for government support of small businesses owned by Ghanaians.
Mr Ronald N. Bwosi, Group Managing Partner of Ronalds LLP, encouraged SMEs to leverage tax incentives and emphasized the advantages of tax compliance and strategic planning. He noted that compliant businesses often experience reduced tax burdens and can promote themselves without fear of repercussions.
Atta Issah, a Member of the Finance Committee of Parliament, addressed the issue of unemployment in Ghana, citing the 2026 Budget's reforms aimed at strengthening the business sector to create jobs. He praised the increased VAT registration threshold as a measure to encourage entrepreneurship and business development.