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Minister of Information Dismisses Claims of New Taxes in Ghana
The Minister of Information, Kojo Oppong Nkrumah, has refuted claims that the three revenue bills recently passed by Ghana’s Parliament will impose new taxes on Ghanaians during these trying times. The bills include the Income Tax (Amendment) Bill, the Excise Duty and Excise Tax Stamp (Amendment) Bill, and the Growth and Sustainability Levy Bill.
Nkrumah clarified that the bills do not create new taxes but rather broaden the country’s revenue base. He explained, “The Income Tax Act, Excise Duty Levy Act, and Fiscal Responsibility Act already exist. The fiscal policy managers believe that certain individuals and transactions are not covered by these existing laws.”
He emphasized that it is necessary to extend the base to include those who are not currently covered by current revenue measures.
After the passage of the three bills, the government aims to raise around GHC4 billion per year to supplement domestic revenue.
However, some business organizations, such as the Ghana National Chamber of Commerce and Industry (GNCCI), have opposed the move, claiming that it will result in the collapse of businesses.
On Friday, March 31, 2023, a majority decision of 137-136 allowed the bills to proceed.