REVENUEMOBILIZATION IN GHANABY KOJO SELASI ASHIADEY

IntroductionIf we are to achieve the sustainable development goals, we will have to engage in sub national governments very strongly, in terms of delivery of services because they are critical to the process of fiscal decentralization. The process of shifting some responsibilities for expenditures and/or revenues to lower levels of government is known as fiscal decentralization. Revenue mobilization remained the major problem facing district assemblies. Out of the estimated revenue of 847 million cedis to be collected by the assembly from its traditional sources this year, only 325.2 million cedis was collected.Other avenues of revenue generation should be explored to enhance its base. Policies and programmes should be explained to the communities for them to appreciate and contribute meaningfully to the development of the district. 

The definition and concept of public revenue The Oxford Advanced Learner‘s Dictionary

defines public revenue as the money that a government receives from taxes and other sources. In simple terms, Revenue is income that a company receives from its normal business activities, usually from the sale of goods and services to customers. In many countries, such as the United Kingdom, revenue is referred to as turnover.

Problem discussion I am trying to solve ineffective collection of taxes, and

most importantly, inefficient utilization of taxes to develop the SDG’s in our communities in Ghana to make our nation an upper middle income nation. The goal is for Ghana to have sustainable development, and this can happen if we can minimize corruption, illicit flows and practice good governance. By the year 2030, most Ghanaians should be out of poverty, be in good health, have quality education, get good jobs etc. But before we can achieve that goal, we should most importantly be involved in fiscal decentralization which is vital in working towards the sustainable development goals.

SUMMARY OF CENTRAL GOVERNMENT OPERATIONS AND FINANCING 2015

SUMMARY OF REVENUE AND GRANTS ESTIMATE FOR 2016

TOTAL GOVT. TAX REVENUE FROM JAN TO SEPT 2015

Where is the revenue gotten? User fees and charges Property revenue Revenue from specific trades Revenue from persons in gainful

employment

Reason for the participation of government and official aid providers Government, official aid providers and

private investors would have to participate so that they can earn returns from the investments they make into the sectors.

Reasons for low revenue mobilization Bribery and Corruption High standards of living High unemployment Lack of education on tax responsibility Lack of apparent political will Poor local facilities Weak administration

Solution Provide good jobs to accommodate most

of all tertiary institution graduates. Strengthen our currency by exporting more goods than importing. And increase productivity in our local industries with continuous power supply.

17 SUSTAINABLE DEVELOPMENT GOALS

The SDGs, which was endorsed by the United Nations at its 70th Session on 18th September, 2015, seek to build on the Millennium Development Goals (MDGs) and to complete what the MDGs did not achieve, particularly in reaching the most vulnerable. The SDGs seek to balance the three dimensions of sustainable development: the economic, social and environmental. The new Agenda, which has 17 broad goals, with 169 targets, is guided by the purposes and principles of the Charter of the United Nations, including full respect for International Law and is grounded in the Universal Declaration of Human Rights, International Human Rights Treaties, the Millennium Declaration, the 2005 World Summit Outcome Document as well as instruments such as the Declaration on the Right to Development.

HOW CAN GHANA GENERATE ENOUGH FUNDS TO FINANCE THE SDG’S Provide good jobs to accommodate most of the tertiary institution

graduates. Strengthen our currency by exporting more goods than importing. Increase productivity in our local industries with continuous power

supply. Increase tax rates, reduce illicit flows and tax evasion, effective

mobilization of the internally generated revenue. Practice of good leadership, good political system and transparency. Attract a lot of private investors

References www.modernghana.com GHANA 2016 BUDGET STATEMENT AND ECONOMIC POLICY