During his appearance on JoyNews' Newsfile, he highlighted that while supporting the economy is essential, the abrupt introduction of new taxes is causing hardship for Ghanaians.
Gov't tax increases are state-sponsored robbery — Prof Bokpin
Prof Godfred A. Bokpin, an Economist and Finance Professor, argues that the government's frequent imposition of taxes is a simplistic method of generating revenue, leading to financial strain on citizens.
He said "This is state-sponsored robbery. This is robbery that leaves the citizens financially repressed. It should not be accepted. I think in Ghana, we have allowed too many wrongs in this country."
Professor Bokpin emphasized the significance of identifying effective methods to generate revenue without jeopardizing households' ability to fulfill their needs and maintaining the competitiveness of the private sector.
He stated that "Nobody can tell us that the only way out is to impose more taxes and taxes, as we have done. The more we impose taxes, the real effect in scaling up or our tax revenue to GDP ratio is not seen."
Prof Bokpin added that This is a small open economy. We have more than 27 different tax handles. That is not the only thing. If since 2020 the taxes we have imposed, if you estimate the compliance cost to the taxpayer, it’s huge, configuring systems virtually every six months, there is no predictability.
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