Widening The Tax Base In Ghana S Informal Sector
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Widening The Tax Base In Ghana S Informal Sector
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Author : Juabin Matey
language : en
Publisher: GRIN Verlag
Release Date : 2018-03-27
Widening The Tax Base In Ghana S Informal Sector written by Juabin Matey and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-03-27 with Business & Economics categories.
Essay from the year 2018 in the subject Economics - Finance, grade: 89, University of Cape Coast, course: Bachelor of commerce in accounting, language: English, abstract: Over the years, Ghana’s budgets have suffered perennial deficits partially on account of low domestic tax revenue mobilisation which statistically hover around 18% of Gross Domestic Product. Whilst this downside has several facets, one of the foremost remedies is protecting the domestic tax base. Widening the domestic tax base of the economy has been a subject matter that has received hefty attention of successive Governments over years in most parts of the world. As a matter of reality, various tax authorities in Ghana have created numerous efforts directed at mobilising as much as possible tax revenue to assist government expenditures on developmental, social, recurring and interventional projects over the years. These efforts of tax mobilisation are dear to governments for the achievements of fiscal consolidation and higher tax revenue to Gross Domestic Product ratio. Ghana Revenue Authority’s efforts are carefully crafted to tackle the informal sector where there are perceived revenue leakages but still struggling as a result of the inadequacies of the current tax structure to efficiently mobilise revenue from certain industries and sectors of the economy. The concept of the informal sector with its tax liability is considered as a social model mainly used for small, medium and micro enterprises that are quite difficult to be captured by the operations of tax authorities. It is evidently a fact therefore that though the government needs to mobilise tax revenue quite on the aggressive side, tax increases have a decline effect on upper-income households’ reported taxable income and indeed more than, decrease moderate-income households’ reported income. This is not because upper-income households choose to work less, but because they take advantage of their greater capacity to shift income from one category to another or one time period to another to reduce their taxes. Consequently, Fieldhouse reiterates that, raising tax rates while broadening the tax base through tax elimination and expenditures in the form of deductions, exclusions, exemptions, and preferential treatment of capital income against labour efforts and improving tax enforcement to minimize this avoidance thus could deter inefficient allocations of capital that are made simply for tax purposes.
Taxing The Informal Sector In Developing Countries
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Author : Alexander Ampaabeng
language : en
Publisher:
Release Date : 2019
Taxing The Informal Sector In Developing Countries written by Alexander Ampaabeng and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
Taxing the informal sector poses a significant challenge to every tax authority. The task of designing a system to encourage voluntary tax compliance in the informal sectors of developing economies is a particularly important task given the relative sizes of these sectors in their domestic economies. Due to lack of reliable data about the operators of the informal economy it is difficult to comprehensively understand what produces tax non-compliance, and even less what motivates compliance, however, this information is critical to the design of effective policy. Most tax authorities resort to using blunt and often punitive measures designed to deter evasion rather than promoting long term voluntary compliance. Existing literature on informal sector taxation in developing countries is limited, and what does exist emphasises development of the tax system rather than understanding the taxpayer. This study draws on research designed for better understanding of taxpayer behaviour in the formal sector and apply it to informal sector taxpayers to explore the degree to which it may inform us of tax compliance motivations in this sector also. The study uses the Ayres and Braithwaite (1992) Responsive Regulatory Theory (RRT) to analyse the impact of a responsive regulatory tax administration on the tax compliance decision of informal sector operators. Three methods of data collection are used - face-to-face interview, survey and field observation to collect data from the informal sector operators and tax officers in Ghana. The findings from this study indicate that due to the difficulty in obtaining information about taxpayers and the ease in concealing taxable activities, adopting purely command-and-control and deterrence-based compliance approaches such as intensive auditing and heavy fines will not promote voluntary compliance. The study thus finds that tax morale, relationship with the officials, trust, tax education/knowledge, and tax revenue usage do have significant influence on compliance decisions in this sector in similar ways to those operating as part of formal tax systems.
The Report Ghana 2017
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Author : Oxford Business Group
language : en
Publisher: Oxford Business Group
Release Date : 2017-01-11
The Report Ghana 2017 written by Oxford Business Group and has been published by Oxford Business Group this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-01-11 with categories.
These include a more stable macroeconomic environment through the fiscal consolidation programme, a more favourable balance of trade buttressed by expanding oil exports and an increasingly sophisticated financial system, as evidenced by a soon-to-be-launched commodities exchange and increased integration with regional and international securities markets. Risks remain, however. High interest rates, inflation and public debt in the face of stubbornly low levels of private sector lending and insurance penetration will likely remain through 2017. Nonetheless, the government has demonstrated a commitment to undertaking the structural reforms that are necessary to bring down interest rates, stabilise the currency and get Ghana’s fiscal house in order.
Presumptive Taxation In Sub Saharan Africa
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Author : Mr.Günther Taube
language : en
Publisher: International Monetary Fund
Release Date : 1996
Presumptive Taxation In Sub Saharan Africa written by Mr.Günther Taube and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Business & Economics categories.
This paper analyses presumptive taxation methods and their application in Sub-Saharan Africa. Presumptive taxation involves simple techniques to capture domestic transactions and sources of income that frequently escapes conventional taxation.
The Long Shadow Of Informality
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Author : Franziska Ohnsorge
language : en
Publisher: World Bank Publications
Release Date : 2022-02-09
The Long Shadow Of Informality written by Franziska Ohnsorge and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-02-09 with Business & Economics categories.
A large percentage of workers and firms operate in the informal economy, outside the line of sight of governments in emerging market and developing economies. This may hold back the recovery in these economies from the deep recessions caused by the COVID-19 pandemic--unless governments adopt a broad set of policies to address the challenges of widespread informality. This study is the first comprehensive analysis of the extent of informality and its implications for a durable economic recovery and for long-term development. It finds that pervasive informality is associated with significantly weaker economic outcomes--including lower government resources to combat recessions, lower per capita incomes, greater poverty, less financial development, and weaker investment and productivity.
Designing A Tax Administration Reform Strategy
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Author : Ms.Katherine Baer
language : en
Publisher: International Monetary Fund
Release Date : 1997-03-01
Designing A Tax Administration Reform Strategy written by Ms.Katherine Baer and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997-03-01 with Business & Economics categories.
Building on previous FAD work in the tax administration field, this paper defines broad criteria for diagnosing the problems in a country’s tax administration and formulating an appropriate reform strategy. To be effective, this strategy should be based on the size of the tax gap and the country’s particular circumstances. This paper discusses some guiding principles which have provided the basis for successful reforms, including: reducing the tax system’s complexity, encouraging taxpayers’ voluntary compliance, differentiating the treatment of taxpayers by their revenue potential, and ensuring the reform’s effective management. Also discussed are specific bottlenecks that hinder the effectiveness of the tax administration’s operations.
Ghana
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Author : Kwame Insaidoo
language : en
Publisher: AuthorHouse
Release Date : 2012
Ghana written by Kwame Insaidoo and has been published by AuthorHouse this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with Political Science categories.
Can anybody tell us why profound poverty continues to plague our nation of barely 25 million people in this modern era of globalization in 2012? Why do you think the vast majority of our beloved people live on less than a dollar a day and struggle from cradle to grave living in near squalor, and eking out near subsistence existence? As yourself why is it that in the midst of this profound abject poverty less than ten percent of our fellow countrymen and women live in opulence and wallow in untold riches with their mansions encased with six-foot walls, seek medical attention in luxurious medical facilities abroad? Are the vast majority of our people in poverty ignorant and stupid, while the few wealthy ones are perceived as more intelligent and wiser than all of us?
Global Economic Prospects January 2019
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Author : World Bank Group
language : en
Publisher: World Bank Publications
Release Date : 2019-02-12
Global Economic Prospects January 2019 written by World Bank Group and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-02-12 with Business & Economics categories.
The outlook for the global economy has darkened. Global financing conditions have tightened, industrial production has moderated, trade tensions have intensified, and some large emerging market and developing economies have experienced significant financial market stress. Faced with these headwinds, the recovery in emerging market and developing economies has lost momentum. Downside risks have become more acute and include the possibility of disorderly financial market movements and an escalation of trade disputes. Debt vulnerabilities in emerging market and developing economies, particularly low-income countries, have increased. More frequent severe weather events would raise the possibility of large swings in international food prices, which could deepen poverty. In this difficult environment, it is of paramount importance for emerging market and developing economies to rebuild policy buffers while laying a stronger foundation for future growth by boosting human capital, promoting trade integration, and addressing the challenges associated with informality,
Social Contracts And Informal Workers In The Global South
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Author : Alfers, Laura
language : en
Publisher: Edward Elgar Publishing
Release Date : 2022-06-10
Social Contracts And Informal Workers In The Global South written by Alfers, Laura and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-06-10 with Social Science categories.
This is an open access title available under the terms of a CC BY-NC-ND 4.0 License. It is free to read, download and share on Elgaronline. Illustrating how current social contracts may be considered inadequate, irrelevant or unjust, Social Contracts and Informal Workers in the Global South draws on the accounts of informal workers to advocate for radically new conceptualizations of state-society, capital-labour and state-capital-labour relations characterised by recognition, responsiveness and reciprocity.
Taxation And Gender Equity
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Author : Caren Grown
language : en
Publisher: IDRC
Release Date : 2010
Taxation And Gender Equity written by Caren Grown and has been published by IDRC this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with Business & Economics categories.
Around the world, there are concerns that many tax codes are biased against women, and that contemporary tax reforms tend to increase the incidence of taxation on the poorest women while failing to generate enough revenue to fund the programs needed to improve these women's lives. Because taxes are the key source of revenue governments themselves raise, understanding the nature and composition of taxation and current tax reform efforts is key to reducing poverty, providing sufficient revenue for public expenditure, and achieving social justice. This is the first book to systematically examine gender and taxation within and across countries at different levels of development. It presents original research on the gender dimensions of personal income taxes, and value-added, excise, and fuel taxes in Argentina, Ghana, India, Mexico, Morocco, South Africa, Uganda and the United Kingdom. This book will be of interest to postgraduates and researchers studying Public Finance, International Economics, Development Studies, Gender Studies, and International Relations, among other disciplines.