The Implication of the Current Tax System on Financial Technology Usage and Financial Inclusion in Ghana

Financial Technology (FinTech) is crucial in expanding access to financial services and thereby increasing tax mobilisations. This paper aims to analyse the simultaneous effects of taxation on FinTech adoption and its potential consequences on financial inclusion, taking into account the fast-paced development of FinTech and recent changes in Ghana’s tax system. This paper collected primary data through a survey in Accra. The findings indicate that the current tax system significantly impacts FinTech usage, specifically in terms of revenue mobilisation, tax compliance and financial inclusion. The findings also suggest that existing tax policies have come with barriers, resulting in decreased financial inclusion.