Akyem Oda, Oct. 12, GNA - Mr Yaw Osafo-Maafo, Former Minister of Finance and Economic Planning on Thursday urged Ghanaians to honour their tax obligations promptly without coercion.

"We need to raise internally generated funds to support the system if we are to develop as a nation," he added.

Mr Osafo-Maafo who is also the Member Of Parliament for Akyem Oda made the call at the official inauguration of Akyem Oda Valued Added Tax (VAT) Service Point of Presence (POP).

He said it was a fact that "We need revenue for development" adding that no foreign donors would provide the Government with money to pay wages and salaries.

Mr Osafo-Maafo asked revenue collection agencies to take the necessary steps to minimise corruption within the tax system. Mr Anthony Ewereko, Commissioner of VAT said the service was committed to mobilise revenue for Government to help reduce reliance on foreign loans for development.

He said to widen the tax net, VAT Service had designed the flat rate scheme that would be in operation by December. Mr Ewereko urged traders to comply with the VAT Service regulations to avoid closing down of their shops.

Mr Yaw Barimah, Eastern Regional Minister in a speech read on his behalf, commended the service for bringing the VAT office to the doorsteps of a highly active business centre like Akyem Oda. However, he reminded the service that to ensure maximum revenue mobilization it was imperative to put in place a sustained supervisory system to ensure compliance.

Mr Barimah expressed concern about pockets of businesses that should register for VAT by law in the area but had refused and urged the staff to invoke the commensurate punishment for such offenders. He called on the consuming public to patronize only registered goods and services and insist on VAT invoices in all their transactions.