According to him, the number of tax identification numbers has significantly increased since the Ghana Card was made a national identification card.
Bawumia said, “God willing, next week, I am going to launch a new application for the Ghana Revenue Authority, which will then allow all these people with tax identification numbers to be able to file their taxes on their mobile phones, pay the tax, and get tax clearance certificate automatically generated for everyone.” Bawumia was speaking at the Academic City University College campus opening on Wednesday (17 August).
People simply find filing taxes difficult, but now we’re going to make it extremely simple thanks to a lovely mobile app that’s made to be accessible to everyone, in general, said Bawumia.
The banking industry, according to the vice president, is one of the primary causes of Ghana’s struggling economy.
He claimed the cleanup of the banking industry cost the country a staggering $7 billion.
He claimed the money could have been used to boost the economy of the nation if the previous administration hadn’t been so careless.
“We have to implement a significant financial crisis overhaul. At that time, in 2018/2019, saving the banking system would have cost close to $7 billion. There was virtually no middle ground at this point; you could either let the banking system collapse or you could save.
Therefore, he claimed, “We had to safeguard the banking system, and the 4.6 million people’s deposits [were safe]”.
The war between Russia and Ukraine, as well as COVID-19, are among the difficulties the nation is currently confronting, the vice president added.
“The world economy experienced the greatest economic depression since the 1930s. Of all, from the President’s perspective during COVID-19, the priority was saving lives rather than practicing budgetary restraint.
So certainly, he said, “we concentrated on saving lives at considerable financial cost.
Dr. Bawumia went on to say that when the administration was planning to revive the economy, the Ukraine-Russia war broke out, which caused progress to be chalked up as a failure.