Find alternative means of raising revenue for development projects

Mr Isaac Agyiri Danso, a Lawyer and a Tax Consultant, has urged the government to aside from taxes find alternative means of raising funds for developmental projects.He acknowledged that public contribution through raising of taxes was crucial, explaining that the introduction of many taxes were a burden.The Tax Consultant was speaking in an interview with the Ghana News Agency at a sideline event as part of the African Union Economic, Social and Cultural Council's (AU ECOSOCC) 20th anniversary celebration in Accra.The event was organised by Greenpeace Africa, Strategic Youth Network for Development, and the Tax Justice Network-Africa.It brought about discussions on how to mobilise finances to address the climate crisis and also the UN tax convention in the context of Africa's resource mobilisation for a well-being economy.A UN Convention on tax is a central tool to fix the loopholes in the global tax system and stop the bleeding of financial resources, which are urgently needed to fund education, h ealthcare, and environmental protection.Mr Danso said Ghana had a representative at the committee level of the UN tax convention, hence the need to pursue and give all the support needed for the process to be able to mobilise resources beyond the citizenry's contribution to state resources.'Also, the multinationals who are avoiding taxes from the country, it is important for us to use this opportunity to tighten those loopholes and stop leakages, to also enable us as a continent to raise the necessary domestic resources to finance our development agenda''We lose about USD 89 billion annually to illicit financial flows for which about 60 per cent is related to invoicing, mispricing, tax evasion and aggressive tax avoidance schemes by multinationals, so that is why the UN tax convention is important,' he added.Mr Danso called on Ghanaians to demand accountability from leaders and generate resources beyond consumption taxes.Mr Frederick Njehu, Pan African Political Strategist, Greenpeace Africa, said t here was the need for African governments to prioritise climate-friendly policies and projects, and for civil society organisations to partner with governments to advocate for stronger climate actions.He highlighted the need to explore avenues to raise money for climate finance from existing financial resources like the Global Environment Facility, Global Climate Fund, and Loss and Damage Fund.Mr Njehu called for the organisation of civil society organisations to effectively share knowledge and resources in supporting African governments.Source: Ghana News Agency