Ghana stands to increase its revenue by at least 0.6% of GDP next year if the government fully enforces the tax measures outlined in the 2025 budget, according to the World Bank’s latest Ghana Economic Update.
The projection, unveiled in Accra by World Bank Country Director Robert Taliercio, aligns with fiscal targets under the IMF-supported Extended Credit Facility (ECF) programme. Taliercio stressed that delivering on the measures could significantly enhance transparency and accountability in revenue mobilisation.
“Full enforcement of the tax exemption law and the creation of a comprehensive tax expenditure register will enhance transparency and accountability,” he said, urging swift policy execution.
The Bank’s report called on government to strengthen the Ghana Revenue Authority’s capacity to roll out the Integrated Tax Administration System (ITAS) and conduct risk-based audits to improve compliance.
It further recommended the full adoption of Public Financial Management (PFM) tools including the Ghana Integrated Financial Management Information System (GIFMIS) and the Ghana Electronic Procurement System (GHANEPS) across all ministries, departments, agencies (MDAs) and metropolitan, municipal and district assemblies (MMDAs).
Additionally, integrating all spending accounts into the Treasury Single Account (TSA), the report noted, would improve transparency, efficiency, and expenditure control.
“Improving tax administration, broadening the tax base, and strengthening public financial management will be critical to achieving sustainable fiscal consolidation,” the report concluded.
