Government to re-institute integrated property tax system

The Government will re-institute the integrated property tax system by synthesising data from MMDAs, Lands valuation, ECG and other relevant government agencies to create a comprehensive digital property record database.This will transform property data management and ensure a more efficient and accurate property tax system.Dr Mohammed Amin Adam, the Minister of Finance, said to enhance revenue mobilisation by IGF-reliant Covered Entities, discussions would be held around provisions of incentives to those institutions that exceeded their revenue target for the year.The Minister said this when he presented the 2024 Mid-year Fiscal Policy Review to Parliament on Tuesday.He said the Ministry would continue the deployment of Ghana.Gov Payment Platform to remaining public institutions and ensure that all those already on-board went live.Additionally, the outstanding activities for the full rollout and utilisation of the GIFMIS for the processing of IGF expenditures would be completed by the end of the ye ar.He said the government would develop a framework for the re-introduction of road and bridge tolls to facilitate the processes for the implementation of a modernised and efficient road and bridge tolling system commencing in 2025.Dr Amin said for the rest of the year, the Ministry of Finance would deepen engagements with both GRA and relevant stakeholders to effectively implement policy, administrative and regulatory measures to ensure that the revenue targets were met.He said to broaden the tax base, a simplified digital solution for the operationalisation of the modified taxation scheme would be deployed, as well as an electronic bookkeeping system.Additionally, 2,000 more taxpayers would be added to the electronic invoicing system (e-VAT) by the close of the year.He said GRA would continue with the cleaning of the taxpayer register and on-board more taxpayers onto its electronic systems to improve the taxpayer experience and compliance.'In addition, GRA will continue to enhance data sharing w ith other tax jurisdictions to boost revenue mobilisation,' he added.Source: Ghana News Agency