- 2 Marks
Question
In 2009, the former revenue agencies (VAT, IRS, and CEPS) were consolidated into the Ghana Revenue Authority (GRA). This integration was anticipated to provide certain benefits to both taxpayers and the overall tax administration.
Required:
State FOUR benefits resulting from the integration of the revenue agencies into the GRA
Answer
The integration of the VAT, IRS, and CEPS into the Ghana Revenue Authority (GRA) provided several benefits, including:
- Reduced Administrative and Compliance Costs – The consolidation streamlined administrative processes and reduced compliance burdens for taxpayers.
- Improved Service Delivery – The integration facilitated better coordination between tax departments, enhancing taxpayer services.
- Better Information Flow – Centralizing tax administration improved data sharing and tracking of taxpayer records.
- Holistic Approach to Tax Administration – A unified tax system improved enforcement and tax collection efficiency.
- Enhanced Revenue Mobilization – The integration led to increased efficiency in revenue collection, reducing tax evasion and leakage.
- Topic: Tax Administration
- Series: Nov 2024
- Uploader: Salamat Hamid