The UK will help Ghana clamp down on tax avoidance and evasion by sharing expertise so the country can raise revenues and build stronger public services, International Development Secretary Justine Greening and Financial Secretary David Gauke MP has said. The partnership will allow Ghana to automatically receive tax information from HMRC on the UK holdings of Ghanaian taxpayers and vice versa – helping to detect undeclared assets, catch tax evaders and deter potential tax evaders.
This will enable Ghana maximise domestic resources and ensure people pay their fair share of tax, reclaim millions of pounds in lost revenue and revenues would be invested into public services such as health, education and infrastructure.
HMRC is partnering with the Ghana Revenue Authority (GRA) to develop their expertise on tax legislation, compliance and data privacy so they are ready for the automatic exchange of tax information in 2018.
International Development Secretary, Justine Greening, said the UK is committed to helping developing countries get their tax systems in order so that as their economies grow they are able to increasingly fund their own health and education programmes and reduce aid dependence.
He added that it is a real opportunity to tackle corruption and poverty and contribute to DFID’s efforts to reduce corruption in some of the world’s poorest countries.
Financial Secretary to the Treasury David Gauke said: “Sharing our tax expertise will help the Ghanaian taxman have the systems in place to make the most of the tax information they recieve from over 90 countries come 2018.”