Transparent accounting needed for the nation’s natural resources – Vice President

Accra, Jan. 15, - The government is preparing to introduce a regulation that will ensure transparent accounting for the export of Ghana’s natural resource, Vice President Alhaji Dr Mahamudu Bawumia, has said.

“For the most part …we are told by natural resource extraction firms that we have exported a certain amount of gold, oil, and bauxite but the question is how do we verify that indeed that is the exact quantity that was exported”, he said.

Vice President Bawumia said this on Monday at the opening of the 69th Annual New Year School and Conference (ANYSC).

This year's event is being held under the theme: “Job Creation for Accelerated National Development: The Role of the Private Sector”.

“Under the new regulation, we are going to insist on a transparent accounting of our natural resource. In other countries when a mineral is mined, it is under the control of government until it is exported. We are going talk with the mining and oil firms and insist on a transparent accounting system,” Vice President Bawumia said.

He said during an interaction with some officials of Dubai during a recent visit, they praised Ghana’s high quality of gold and the quantum exported but the figures did not match what was locally reported.

Vice President Bawumia said as part of efforts to change the developmental project financing, government was going to leverage on the country’s natural resources available to finance projects.

“What has happened over the years is that we were borrowing but if we have these natural resources we can leverage on it. If we have 400-million worth of gold and we need 10 million to do an infrastructure, we should be able to strike a deal that will get me the money with the natural resource but not by borrowing”

Vice President Bawumia said government was collaborating with the private sector to employ 100, 000 graduates under the Nations Builders Core, an employment scheme for graduates, which will engage teachers, nurses and agric extension agents amongst others.

“This year is for job creation, there are many vacancies that are available and many people are unemployed so we are working to ensure that these positions are filled,” he said.

Dr Bawumia said an advertisement to solicit qualified contractors to partake in the ‘one-village one dam’ project would be out this week and due processes would be adhered.

GNA

Failure to pay tax is against constitution -NCCE

Zabzugu (NR), Jan. 15, - Mr Tahiru Imoro, Zabzugu District Director of the National Commission for Civic Education (NCCE) has reiterated that failure to pay one’s full tax liabilities is against the constitution of Ghana.

He said honouring one’s tax obligation is a mandatory financial charge imposed on the taxpayer by governmental organization to fund various public expenditures embedded in the constitution of Ghana that is punishable by law (Article 41 of the 1992 Constitution).

Mr Imoro said these at separate durbars in the Zabzugu District during an engagement with Religious groups, Traditional authorities, Women groups, Youth groups, Artisans, Transport operators, Market women and men, Taxable persons and Entities on the need to be responsive on tax payment.

The exercise formed part of the nationwide campaign on tax compliance and was aimed at raising the awareness of the public on improved taxpayer’s behaviour and readiness to pay tax voluntarily, to enable government to provide socio-economic development.

The exercise, organized by NCCE, in collaboration with the Ghana Revenue Authority (GRA), was undertaken in 20 selected communities within the Zubzugu district on tax compliance dubbed ‘Our Taxes-Our Future’.

Mr Imoro indicated that, government has initiated several developmental programmes with the aim of providing basic social amenities, urging the public to honor their tax obligation to enhance national revenue mobilization.

During the event, the public were educated on the type of tax regimes such as direct tax, indirect tax, personal income tax, corporate tax, and exercise tax, custom duty, land revenue tax and Value Added Tax (VAT).

The exercise was broadcast at dawn and dusk as well as radio engagements, as strategies to disseminate the right information for public engagement.

He urged the public to remain responsive in performing their civic duty by paying their taxes to contribute towards the development of the country, saying, “Taxpayers are nation builders, taxes build great nations, and every little tax helps”.

GNA