BREAKING: More Hardship For Ghanaians; See What Government Increased In Today’s Budget Reading; Citizens To Be Paying More -DETAILS 

Election Of The Speaker Of Parliament In Ghana Causes Worldwide Uproar As Series Of Confusion Rocks The House
Spread the love

More Hardship For Ghanaians; See What Government Increased In Today’s Budget Reading; Citizens To Be Paying More -DETAILS .

Government has announced an increment in Value Added Tax (VAT) by 2.5 percent for consumers of goods and services.

The move, according to government is expected to improve government’s domestic revenue measures while seeking to reach an IMF deal to restore macroeconomic stability.

https://www.funbooo.com

“Mr. Speaker, we will undertake the following actions, initiatives, and interventions under the seven-point agenda. To aggressively mobilize domestic revenue, we will among others: Increase the VAT rate by 2.5 percent to directly support our roads and digitalization agenda; Fast-track the implementation of the Unified Property Rate Platform programme in 2023; and Review the E-Levy Act and more specifically, reduce the headline rate from 1.5% to one percent (1%) of the transaction value as well as the removal of the daily threshold.”

The Minister of Finance, Ken Ofori-Atta, made this known in parliament when he delivered the 2023 budget before lawmakers on Thursday, November 24, 2022.

The presentation is in accordance with Article 179 of the 1992 Constitution and section 21 of the Public Financial Management Act, 2016 (Act 921).

The minister is presenting the 2023 Budget Statement and Economic Policy to parliament in a year that has experienced perhaps, the worst forms of economic downturns in the fourth republic.

READ:  JUST IN: The Bank Managers Change The Ladies Working In The Bank At Their Will; Victim Drops Secrets As She Sued Bank, Staff For Sexual Harassment -Details

Ken Ofori-Atta has also come under a lot of backlash and pressure from both within and outside his party, the New Patriotic Party (NPP), to either resign or be sacked by President Nana Addo Dankwa Akufo-Addo.

 

Be the first to comment

Leave a Reply

Your email address will not be published.


*