Government to mobilise more revenues as tax payers base hits 19m

Government to Mobilize More Revenues as Taxpayers' Base Hits 19 Million

The government has announced plans to mobilize more revenues as the taxpayers' base has hit 19 million, a significant increase from the 12 million recorded in 2020. This development is expected to boost government revenue and support the implementation of various development projects.

Key Highlights:

  1. Increased Taxpayers' Base: The number of taxpayers in the country has increased by 57% from 12 million in 2020 to 19 million in 2023, indicating a significant growth in the economy.
  2. Revenue Mobilization: The government plans to mobilize more revenues from the increased taxpayers' base to support the implementation of various development projects, including infrastructure development, healthcare, and education.
  3. Improved Tax Compliance: The government has introduced measures to improve tax compliance, including the use of technology to streamline tax collection and reduce tax evasion.
  4. Increased Government Revenue: The increased taxpayers' base is expected to generate more revenue for the government, which will be used to fund various development projects and improve public services.
  5. Economic Growth: The growth in the taxpayers' base is a positive indicator of the country's economic growth, which is expected to continue in the coming years.

Impact on the Economy:

  1. Increased Government Spending: The increased revenue will enable the government to increase its spending on various development projects, which will have a positive impact on the economy.
  2. Job Creation: The government's increased spending on development projects is expected to create more jobs, which will help to reduce unemployment and improve living standards.
  3. Improved Public Services: The increased revenue will enable the government to improve public services, including healthcare, education, and infrastructure development.
  4. Increased Foreign Investment: The growth in the taxpayers' base and the government's increased revenue are expected to attract more foreign investment, which will help to diversify the economy and improve its competitiveness.

Conclusion:

The growth in the taxpayers' base and the government's plans to mobilize more revenues are positive indicators of the country's economic growth and development. The increased revenue will enable the government to implement various development projects, improve public services, and create more jobs, which will have a positive impact on the economy and the people.