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Widening The Tax Base In Ghanas Informal Sector
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Book Synopsis Widening the Tax Base in Ghana's Informal Sector by : Juabin Matey
Download or read book Widening the Tax Base in Ghana's Informal Sector written by Juabin Matey and published by GRIN Verlag. This book was released on 2018-03-27 with total page 10 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis The Long Shadow of Informality by : Franziska Ohnsorge
Download or read book The Long Shadow of Informality written by Franziska Ohnsorge and published by World Bank Publications. This book was released on 2022-02-09 with total page 397 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis The Report: Ghana 2017 by : Oxford Business Group
Download or read book The Report: Ghana 2017 written by Oxford Business Group and published by Oxford Business Group. This book was released on 2017-01-11 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Global Economic Prospects, January 2019 by : World Bank Group
Download or read book Global Economic Prospects, January 2019 written by World Bank Group and published by World Bank Publications. This book was released on 2019-02-12 with total page 470 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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,
Book Synopsis Taxation, Responsiveness and Accountability in Sub-Saharan Africa by : Wilson Prichard
Download or read book Taxation, Responsiveness and Accountability in Sub-Saharan Africa written by Wilson Prichard and published by Cambridge University Press. This book was released on 2015-09-11 with total page 309 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is increasingly argued that bargaining between citizens and governments over tax collection can provide a foundation for the development of responsive and accountable governance in developing countries. However, while intuitively attractive, surprisingly little research has captured the reality and complexity of this relationship in practice. This book provides the most complete treatment of the connections between taxation and accountability in developing countries, providing both new evidence and an invaluable starting point for future research. Drawing on cross-country econometric evidence and detailed case studies from Ghana, Kenya and Ethiopia, Wilson Prichard shows that reliance on taxation has, in fact, increased responsiveness and accountability by expanding the political power wielded by taxpayers. Critically, however, processes of tax bargaining have been highly varied, frequently long term and contextually contingent. Capturing this diversity provides novel insight into politics in developing countries and how tax reform can be designed to encourage broader governance gains.
Book Synopsis Presumptive Taxation in Sub-Saharan Africa by : Mr.Günther Taube
Download or read book Presumptive Taxation in Sub-Saharan Africa written by Mr.Günther Taube and published by International Monetary Fund. This book was released on 1996 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Youth Employment Programs in Ghana by : Christabel Dadzie
Download or read book Youth Employment Programs in Ghana written by Christabel Dadzie and published by World Bank Publications. This book was released on 2020-09-04 with total page 83 pages. Available in PDF, EPUB and Kindle. Book excerpt: Unemployment and underemployment are global development challenges. The situation in Ghana is no different. In 2016, it was projected that, given the country’s growing youth population, 300,000 new jobs would need to be created each year to absorb the increasing numbers of unemployed young people. Yet the employment structure of the Ghanaian economy has not changed much from several decades ago. Most jobs are low skill, requiring limited cognitive or technology know-how, reflected in low earnings and work of lower quality. An additional challenge for Ghana is the need to create access to an adequate number of high-quality, productive jobs. This report seeks to increase knowledge about Ghana’s job landscape and youth employment programs to assist policy makers and key stakeholders in identifying ways to improve the effectiveness of these programs and strengthen coordination among major stakeholders. Focused, strategic, short- to medium-term and long-term responses are required to address current unemployment and underemployment challenges. Effective coordination and synergies among youth employment programs are needed to avoid duplication of effort while the country’s economic structure transforms. Effective private sector participation in skills development and employment programs is recommended. The report posits interventions in five priority areas that are not new but could potentially make an impact through scaling up: (1) agriculture and agribusiness, (2) apprenticeship (skills training), (3) entrepreneurship, (4) high-yielding areas (renewable energy†“solar, construction, tourism, sports, and green jobs), and (5) preemployment support services. Finally, with the fast-changing nature of work due to technology and artificial intelligence, Ghana needs to develop an education and training system that is versatile and helps young people to adapt and thrive in the twenty-first century world of work.
Book Synopsis The Informal Economy in Sub-Saharan Africa by : Leandro Medina
Download or read book The Informal Economy in Sub-Saharan Africa written by Leandro Medina and published by International Monetary Fund. This book was released on 2017-07-10 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: The multiple indicator-multiple cause (MIMIC) method is a well-established tool for measuring informal economic activity. However, it has been criticized because GDP is used both as a cause and indicator variable. To address this issue, this paper applies for the first time the light intensity approach (instead of GDP). It also uses the Predictive Mean Matching (PMM) method to estimate the size of the informal economy for Sub-Saharan African countries over 24 years. Results suggest that informal economy in Sub-Saharan Africa remains among the largest in the world, although this share has been very gradually declining. It also finds significant heterogeneity, with informality ranging from a low of 20 to 25 percent in Mauritius, South Africa and Namibia to a high of 50 to 65 percent in Benin, Tanzania and Nigeria.
Book Synopsis The Shadow Economy by : Friedrich Schneider
Download or read book The Shadow Economy written by Friedrich Schneider and published by Cambridge University Press. This book was released on 2013-02-14 with total page 225 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents new data to give an overview of shadow economies from OECD countries and propose solutions to prevent illicit work.
Download or read book Ghana written by Kwame Insaidoo and published by AuthorHouse. This book was released on 2012 with total page 459 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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?
Download or read book Doing Business 2020 written by World Bank and published by World Bank Publications. This book was released on 2019-11-21 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seventeen in a series of annual reports comparing business regulation in 190 economies, Doing Business 2020 measures aspects of regulation affecting 10 areas of everyday business activity.
Book Synopsis Taxation in Ghana: a Fiscal Policy Tool for Development by : Dr. George Appiah-Sokye
Download or read book Taxation in Ghana: a Fiscal Policy Tool for Development written by Dr. George Appiah-Sokye and published by AuthorHouse. This book was released on 2021-07-01 with total page 860 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first edition of this book-Taxation in Ghana: A Fiscal Policy Tool for Development- is the product of considerable tax research from 1943 to 2018, spanning a period of 75 years and grounded in knowledge and concepts; as well as, applications through an extended period of tax practice, teaching and learning; combined with international exposure. A lot of insights have been illuminated based on lessons learned and drawn from other countries, including the United States of America to enrich the contents. Against the backdrop of the dynamic nature of taxation and fiscal policy. Most of the existing taxation books in Ghana focused on tax practice. So, the purpose of this book is to bridge the taxation scholarship gap. In addition to traditionally-treated topics in most taxation books in Ghana, the novelty in this book is the inclusion of important topics on tax planning, tax reforms, and tax administration, and many more. As a result, specific recommendations have been proffered for the consideration of policy makers in developing countries. References and Acts of Parliament; supported by appendices have been provided for further studies on the subject. A true story of the first major oil discovery in Ghana by Mr. George Yaw Owusu with M. Rutledge McCall published 2017 in the United States of America: In Pursuit of JUBILEE was used to enrich the discussion on petroleum (Oil and Gas) in Chapter 48 of this textbook. Additionally, Apostle Professor Opoku Onyinah of the Church of Pentecost has been presented for his phenomenal transformational leadership in Africa in Chapter 66. The book has been designed for: (1) Individual study, (2) Group study, (3) Lecture material, (4) Policy Manual, and (5) library or reference.
Book Synopsis Ghana: a Time to Heal & Renew the Nation by : Kwame Afadzi Insaidoo
Download or read book Ghana: a Time to Heal & Renew the Nation written by Kwame Afadzi Insaidoo and published by AuthorHouse. This book was released on 2007-08-08 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this thought provoking book the author takes a critical retrospective glance at the political development of Ghana from its colonial past to the attainment of her sovereignty, and highlights the insidious fundamental flaws in the governance of the new nation. He unequivocally asserts that the creation of a dysfunctional totalitarian governmental system, where a cadre of unseasoned politicians systematically arrogated all power to themselves, and zealously prosecuted their political adversaries into oblivion, constituted the most fatal fundamental flaw in the governance of the nation. He points out that the militarys delusional belief in their self-appointed messianic role of liberating and redeeming Ghana from the odious dictatorship imposed on the people opened up the nation to the Pandoras box of bureaucratic ineptitude, gross power abuses, poorly conceived, and haphazardly implemented programs which precipitated political instability, stagnation, and decay of the institutions of state leading to the exodus of Ghanaians abroad. The dominant theme that permeates throughout the book revolves around the prevalence of the underlying institutional malaise inherited from colonialpolitical structureswhich concentrate too much raw political powers in the hands of the presidency. This accumulation of near absolute power elevates our presidents to the status of benevolent dictators, and sotheir policies go virtually unchallenged. This lack of checks and balances in our political system enabled the colonialists to totally exploit our people, andwhen our Ghanaian leaders governed our new nation in this same odious system they got the opportunity, like the colonial masters, to exploit and arrogate power to themselves, while utilizing the legal system as a weapon to harass their political opponents and silenced them. The author argues that this incompatibility of the colonial system with the political development of modern Ghana is the root cause of our political polarization, endemic instability and pervasive poverty.
Book Synopsis Revenue Mobilization in Developing Countries by : International Monetary Fund. Fiscal Affairs Dept.
Download or read book Revenue Mobilization in Developing Countries written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2011-08-03 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Fund has long played a lead role in supporting developing countries’ efforts to improve their revenue mobilization. This paper draws on that experience to review issues and good practice, and to assess prospects in this key area.
Book Synopsis Strengthening Domestic Resource Mobilization by : Raul Felix Junquera-Varela
Download or read book Strengthening Domestic Resource Mobilization written by Raul Felix Junquera-Varela and published by World Bank Publications. This book was released on 2017-06-29 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: Public spending plays a key role in the economic growth and development of most developing economies. This book analyzes revenues, policy, and administration of Domestic Resource Mobilization (DRM) in developing countries. It provides a broad landscape of practical examples, drawing from lessons learned in World Bank operations across Global Practices over the past several decades. It should be thought of as a starting point for a more comprehensive research agenda rather than a complete inventory itself. This book reviews the trends in tax revenue collection in developing countries. It provides an overview of efforts to close the revenue gap, many of which have been supported by World Bank operations. The book reviews the special challenges facing low income countries, which have traditionally relied on indirect revenues in the context of limited formalization of their economies. An overview of tax policy and administration reform programs is presented, with an overview of outstanding issues that will shape the policy agenda in years ahead.
Book Synopsis Designing a Tax Administration Reform Strategy by : Ms.Katherine Baer
Download or read book Designing a Tax Administration Reform Strategy written by Ms.Katherine Baer and published by International Monetary Fund. This book was released on 1997-03-01 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
