The Value Added Tax (VAT) Service is planning to adopt a new software that would help monitor revenue generated by the Communication Service Tax (CST) popularly known as the “Talk Tax” as it prepares to meet it new target of 855.35 million Ghana cedis .
According to Harry Owusu, Executive Secretary of the Revenue Agencies Governing Board ,this will enable the VAT to meet its projected revenue targets of the CST.
He said the software would therefore provide VAT service the means to either confirm or debunk any false returns made by their agents during their submissions.
Owusu said the CST had bagged 47.03 million Ghana cedis for government since its inception in June last year, despite the figure was 15 per cent below target.
He hoped with the software, the Service would be able to fully monitoring its agents and expand operations to cover other service providers who qualified to collect the CST.
Anthony Ewereko Minlah, Commissioner of the VAT Service, urged the staff to work hard to exceed its revenue target of 45 per cent this year.
He said the current global financial and economic crisis called for more efforts to generate more internal revenue; hence the need for tax authorities to increase their tax yield.
Seth Terkper, Deputy Minister of Finance, called on the staff to redouble their efforts to help implement effective tax regimes for the country.
He also asked the staff to reflect on the need to promote integration among all revenue agencies, the proposed National Revenue Authority and how the National Identification exercise could help improve tax identification systems in the country.
He expressed government’s commitment to support revenue agencies to generate the needed resources for development.
According to Harry Owusu, Executive Secretary of the Revenue Agencies Governing Board ,this will enable the VAT to meet its projected revenue targets of the CST.
He said the software would therefore provide VAT service the means to either confirm or debunk any false returns made by their agents during their submissions.
Owusu said the CST had bagged 47.03 million Ghana cedis for government since its inception in June last year, despite the figure was 15 per cent below target.
He hoped with the software, the Service would be able to fully monitoring its agents and expand operations to cover other service providers who qualified to collect the CST.
Anthony Ewereko Minlah, Commissioner of the VAT Service, urged the staff to work hard to exceed its revenue target of 45 per cent this year.
He said the current global financial and economic crisis called for more efforts to generate more internal revenue; hence the need for tax authorities to increase their tax yield.
Seth Terkper, Deputy Minister of Finance, called on the staff to redouble their efforts to help implement effective tax regimes for the country.
He also asked the staff to reflect on the need to promote integration among all revenue agencies, the proposed National Revenue Authority and how the National Identification exercise could help improve tax identification systems in the country.
He expressed government’s commitment to support revenue agencies to generate the needed resources for development.
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