Currently, the annual personal income tax per capita is lower than 30ghc and this is considered...

Currently, the annual personal income tax per capita is lower than 30ghc and this is considered woefully inadequate.

Meanwhile, many in the formal sector has been over burdened with income tax, some paying above 10,000ghc a year in tax. Nevertheless, those in the informal sector are left to hide in the underground economy .

The government needs more tax revenues from the informal sector to reduce budget deficit and associated borrowing.

In the 2020 fiscal policy, government proposes to rope many hitherto out of the tax net into the tax net so as to increase taxes from the informal sector.

Required
Suggest to Government four policy measures it should implement in order to achieve the 2020 fiscal policy objective

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Expert Solution

ekkarill92 answered 1 year ago

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