The influence of education on addressing the challenges of taxation and cocoa revenue mobilization in Ghana

Abstract

The fiscal challenges stemming from taxation and cocoa revenue generation have created a substantial financial deficit in Ghana, thereby limiting the country's capacity to finance developmental initiatives and alleviate poverty. This investigation proposes educational interventions aimed at surmounting barriers in revenue mobilization endeavors within Ghana. The primary aim is to conduct a comprehensive inquiry into the potential of education in mitigating the challenges associated with revenue generation from taxation and cocoa. Central to this research is the question: What role can public education play in addressing Ghana's obstacles concerning taxation and cocoa revenue mobilization? Economic deterrence and fiscal exchange theories are utilized to underpin the study, offering insights into the motivations and behaviors influencing revenue mobilization efforts, specifically within Ghana's taxation and cocoa sectors. The study identifies corruption and tax policy reforms as pervasive hurdles in revenue mobilization efforts related to taxation and cocoa. It emphasizes the critical role of anti-corruption agencies in leading efforts to prevent and combat corruption effectively. Furthermore, expanding the tax base to encompass substantial informal sectors is deemed essential. Educational initiatives such as school agricultural programs and tax education are proposed as pivotal strategies to enhance awareness of tax regulations, foster compliance, and underscore the significance of revenue generation for taxpayers, businesses, and stakeholders alike.