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Vice-President Dr Mahamudu Bawumia
Vice President Dr Mahamudu Bawumia on Wednesday launched the Revenue Assurance and Compliance Enforcement (RACE) initiative to bolster the government’s revenue mobilization campaign.
RACE is a multi-agency initiative aimed at identifying and eliminating revenue leakage while strengthening the culture of taxpayer compliance.
In particular, it targeted players in oil bunkering, the export of gold and minerals, port operations, transit of goods, storage and operations in free zones.
The initiative would allow the government to stay on course against its economic goals and return the Ghanaian economy to fiscal sustainability by 2024.
Vice President Bawumia, who launched the initiative in Accra, said program implementers will devise a strategy to target potential top taxpayers who are not meeting their tax obligations.
The effectiveness of RACE, explained the vice president, depended on the ability to take advantage of technology and integrate the rich databases of the Ghana-Card, tax identification number, address system. digital, passport office, driver and vehicle licensing authority, among others.
The vice president said this would allow the government to reset the resource mobilization framework and challenge itself to reach new heights in public finances while developing a rebound strategy, following the effects of the COVID pandemic -19.
He said the government’s ability to continue providing social interventions and the necessary support to the private sector depended on its ability to mobilize and accumulate domestic revenues.
Here are the members of the RACE initiative steering committee:
Mr. George Winful, Director, Revenue Policy Division, Ministry of Finance, Mr. Ernest Akore, Senior Technical Advisor to the Minister, Mr. Edward Kwaku Asomani, Deputy National Security Coordinator, Nana Attorbrah Quaicoe, Deputy Director, Office National Intelligence Agency, and Mr. Charles Owusu, Audit Transformation Advisor, Ghana Revenue Authority.
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