GRA moves to collect property rate

Story: News DESK  

 The government plans to put in place a common platform for property rate administration to enhance property rate collection.

During the budget presentation, the Finance Minister, Ken Ofori-Atta, said the Ghana Revenue Authority will begin these processes in January 2022.

“Property rates have the potential to increase revenue mobilisation for MMDAs and release resources for the provision of basic infrastructure as well as the needs of our localities.”

“Property rate assessment and collection pose a challenge to most MMDAs and are fraught with inefficiencies. Government, through the Ghana Revenue Authority, will from January 2022, assist the MMDAs to implement a common platform for property rate administration to enhance Property rate collections and its accountability,” he outlined.

Mr. Ofori-Atta also noted that a sharing ratio will be agreed upon with the Assemblies to ensure cost recovery by the Government in providing the infrastructure for the collection of the property rate.

Observers have criticised the lack of action from the government on the collection and pegging of property rates.

In October, the Senior Presidential Advisor, Yaw Osafo-Maafo noted that Ghana only realised 0.03% of GDP from property rates.

In line with calls for reforms, the Minister of Lands and Natural Resources, Samuel Abdulai Jinapor, disclosed that the government was in the process of rolling out a new policy on property rates so that appropriate rates would be charged on every structure.

As a general theme in the budget presentation, the Finance Minister said the wealthy and the middle class were required to do more to aid revenue collection.

Aside from the property tax, he noted that a streamlined exemption bill, the removal of benchmark values on selected imported goods, and a targeted digital tax will help this drive.

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