Introduction direct tax play a vital tool for revenue collection in Ghana
Business & Finance, Economics, Money & Monetary Policy
| Author: | David Ackah, Makafui R. Agboyi | ISBN: | 9783656842347 |
| Publisher: | GRIN Verlag | Publication: | November 19, 2014 |
| Imprint: | GRIN Verlag | Language: | German |
| Author: | David Ackah, Makafui R. Agboyi |
| ISBN: | 9783656842347 |
| Publisher: | GRIN Verlag |
| Publication: | November 19, 2014 |
| Imprint: | GRIN Verlag |
| Language: | German |
Wissenschaftlicher Aufsatz aus dem Jahr 2014 im Fachbereich VWL - Geldtheorie, Geldpolitik, , Sprache: Deutsch, Abstract: The introduction of direct tax has been a vital tool for revenue collection in Ghana. This study reveals that, revenue acquired from this type of tax is considered very crucial in the development of the country, hence a major source of revenue to the government. Direct tax was introduced in Ghana to subject the assessable income of income earners to tax, but unfortunately in Ghana, the collection of tax is confronted with numerous problems and thus tax evasion, tax avoidance, improper books of account, non-compliance of tax laws and inadequate logistics. This research therefore aims at evaluating the effectiveness of direct tax administration in the informal sector in Ghana. Questionnaires were administered to five (5) staff members of the Internal Revenue Service (IRS) and twenty-five (25) to the traders of the Abossey Okai environs. A simple sampling technique was used to aid in the selection of respondents. Responses from the IRS staff and the traders of the Abossey Okai environs were tabulated and analyzed. The study finds out that the traders in Abossey Okai are ignorant about what direct tax is about. However one major recommendation is for IRS to make it their priority to embark on educational programs for the traders in the Abossey Okai environs in order to enhance the effectiveness of direct tax administration in the informal sector in Ghana.
David Ackah a Ghanaian Professional Holds Ph.D. in Economic Development in Africa, MSc. Economics from the United State of America, Bachelor Degree in Accounting, Post Graduate Diploma in Logistics and Supply Chain Management, Post Graduate Diploma in Project Management, & Post Graduate Diploma in Customer Relationship Management. He also holds a Diploma in Marketing from Institute of Commercial Management (ICM UK), Standard Diploma in Sales Management from Managing & Marketing Sales Association (MAMSA UK) and a certificate in Marketing & Salesmanship from the Institute of Export and Shipping Management. David Ackah holds 'Fellow Chartered Membership' (Highest Grade Membership) from the following Institutions, Institute of Project Management Professionals Ghana, Chartered Institute of Supply Chain Management, Ghana, Chartered Institute of Project Management, Nigeria, Institute of Certified Economists Ghana, & Chartered Institute of Customer Relationship Management, Nigeria. David Ackah is the President of Institute of Project Management Professionals and a Senior Lecturer and Internal Auditor of Golden Sunbeam University College of Science & Technology (both School of Business and Administration) with an oversight of administrative and accounting procedures as well as planning the long-term auditing strategy for the onward development of the University. He provides operational support, monitoring and periodic review of administrative auditing to ensure the achievement of the vision and goals of the University. David Ackah is an author of five Internationally Published Books in the areas of Business, and about forty-two Articles Published in the International domain. He has a total University teaching experience of 5 years, and a total professional experience of 8 years in Manufacturing, Pharma marketing, Sales/Distribution, administration, Economics & finance.
Wissenschaftlicher Aufsatz aus dem Jahr 2014 im Fachbereich VWL - Geldtheorie, Geldpolitik, , Sprache: Deutsch, Abstract: The introduction of direct tax has been a vital tool for revenue collection in Ghana. This study reveals that, revenue acquired from this type of tax is considered very crucial in the development of the country, hence a major source of revenue to the government. Direct tax was introduced in Ghana to subject the assessable income of income earners to tax, but unfortunately in Ghana, the collection of tax is confronted with numerous problems and thus tax evasion, tax avoidance, improper books of account, non-compliance of tax laws and inadequate logistics. This research therefore aims at evaluating the effectiveness of direct tax administration in the informal sector in Ghana. Questionnaires were administered to five (5) staff members of the Internal Revenue Service (IRS) and twenty-five (25) to the traders of the Abossey Okai environs. A simple sampling technique was used to aid in the selection of respondents. Responses from the IRS staff and the traders of the Abossey Okai environs were tabulated and analyzed. The study finds out that the traders in Abossey Okai are ignorant about what direct tax is about. However one major recommendation is for IRS to make it their priority to embark on educational programs for the traders in the Abossey Okai environs in order to enhance the effectiveness of direct tax administration in the informal sector in Ghana.
David Ackah a Ghanaian Professional Holds Ph.D. in Economic Development in Africa, MSc. Economics from the United State of America, Bachelor Degree in Accounting, Post Graduate Diploma in Logistics and Supply Chain Management, Post Graduate Diploma in Project Management, & Post Graduate Diploma in Customer Relationship Management. He also holds a Diploma in Marketing from Institute of Commercial Management (ICM UK), Standard Diploma in Sales Management from Managing & Marketing Sales Association (MAMSA UK) and a certificate in Marketing & Salesmanship from the Institute of Export and Shipping Management. David Ackah holds 'Fellow Chartered Membership' (Highest Grade Membership) from the following Institutions, Institute of Project Management Professionals Ghana, Chartered Institute of Supply Chain Management, Ghana, Chartered Institute of Project Management, Nigeria, Institute of Certified Economists Ghana, & Chartered Institute of Customer Relationship Management, Nigeria. David Ackah is the President of Institute of Project Management Professionals and a Senior Lecturer and Internal Auditor of Golden Sunbeam University College of Science & Technology (both School of Business and Administration) with an oversight of administrative and accounting procedures as well as planning the long-term auditing strategy for the onward development of the University. He provides operational support, monitoring and periodic review of administrative auditing to ensure the achievement of the vision and goals of the University. David Ackah is an author of five Internationally Published Books in the areas of Business, and about forty-two Articles Published in the International domain. He has a total University teaching experience of 5 years, and a total professional experience of 8 years in Manufacturing, Pharma marketing, Sales/Distribution, administration, Economics & finance.
