Finance

Finance Minister outlines measures to raise revenue from betting and others

The Finance Minister, Ken Ofori-Atta, has reiterated measures to raise more revenues domestically in his address on the government’s plans to stabilise the economy.

Among these measures is the Ghana Revenue Authority’s plans to begin taxing electronic commerce and online businesses beginning April 1, 2022.

This is in line with the GHs 80.3 billion tax revenue target set by the government for the year 2022, and also the target to attain a tax to GDP ratio of up to 16.5 percent.

This will rope in companies like Netflix, Facebook Google, Facebook, Instagram, LinkedIn, Facebook, Amazon, and WhatsApp, as well as betting and gaming companies that earn revenue from the country.

The GRA hopes to make GHS 2.7 billion from the VAT on E-commerce in the next eight months.

Out of the amount, the GRA expects GHs1.7 billion from the betting and gaming firms.

Indications are the GRA has a special-purpose software that has been designed to monitor these businesses and tax them accordingly.

In addition, the Finance Minister said the government will:

  • Begin the implementation and collection of the revised Property Rate by end of April 2022;
  • Roll out the simplified tax filing mobile application for all eligible taxpayers by July 2022;
  • Impress upon Parliament to fast track the passage of the E-Levy Bill, Tax Exemptions Bill, and Fees and Charges Bill;
  • Prioritise the Revenue Assurance, Compliance, and Enforcement (RACE) Programme to plug revenue leakages, especially at the ports and the infamous fuel bunkering and small scale mining exporters cabal;
  • Partner with the private sector to introduce digital systems to monitor quarrying, sand winning, and salt winning to get more revenues from our natural resources; and
  • Immediately enforce the “No Duty – No Exit” policy at the MPS Terminal at the Tema Port to improve revenue collection.

 

Ogyem Solomon

Solomon Ogyem – Media Entrepreneur | Journalist | Brand Ambassador Solomon Ogyem is a dynamic Ghanaian journalist and media entrepreneur currently based in South Africa. With a solid foundation in journalism, Solomon is a graduate of the OTEC School of Journalism and Communication Studies in Ghana and Oxbridge Academy in South Africa. He began his career as a reporter at OTEC 102.9 MHz in Kumasi, where he honed his skills in news reporting, community storytelling, and radio broadcasting. His passion for storytelling and dedication to the media industry led him to establish Press MltiMedia Company in South Africa—a growing platform committed to authentic African narratives and multimedia journalism. Solomon is the founder and owner of Thepressradio.com, a news portal focused on delivering credible, timely, and engaging stories across Ghana and Africa. He also owns Press Global Tickets, a service-driven venture in the travel and logistics space, providing reliable ticketing services. In addition to his media ventures, Solomon serves as a Brand Ambassador for Alabuga, a prominent Russian industrial company, representing their interests and expansion across Africa. He previously owned two notable websites—Ghanaweb.mobi and ShowbizAfrica.net—both of which contributed to entertainment and socio-political discussions within Ghana’s digital space. With a diverse background in media, digital journalism, and business, Solomon Ogyem is dedicated to telling impactful African stories, empowering youth through media, and building cross-continental media partnerships.

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