Deloitte advocates for swift operationalisation of Independent Tax Appeal Board

Professional services firm, Deloitte Ghana has emphasized two pivotal areas in its analysis of the 2024 Mid-Year Budget Review, presented by the finance minister. Dr. Mohammed Amin-Adam.

The firm strongly advocates for the swift operationalisation of the Independent Tax Appeal Board (ITAB) and the strategic extension of tax incentives to private sector players involved in road construction projects.

Deloitte highlights that the proposed regulations to fully operationalize ITAB’s hearings are crucial for enhancing the efficiency of tax dispute resolution in Ghana.

Established under the Revenue Administration (Amendment) Act in 2020, ITAB was only inaugurated in 2023, leaving a gap in the country’s tax administration framework.

Deloitte believes that fully operationalising ITAB will not only streamline tax dispute resolution but also provide greater business certainty, which is vital for fostering a stable and predictable business environment in Ghana.

In addition to ITAB, Deloitte also points to the proposed extension of tax incentives as a significant opportunity for economic growth.

Specifically, the firm views the government’s plan to extend these incentives to private sector players partnering with the Government on road construction projects as a potentially transformative move.

If implemented on a national scale, Deloitte suggests that this initiative could unlock new opportunities for public-private partnerships in infrastructure development, a sector critical to Ghana’s long-term economic strategy.

Deloitte also acknowledges the Government’s proposal to extend tax incentives to manufacturers of two-wheeled and three-wheeled electric vehicles.

This initiative aligns with Ghana’s broader environmental goals under the Paris Agreement, promoting eco-friendly transportation options and supporting the country’s commitment to reducing carbon emissions.

By Bismark Awusah