Akufo-Addo should refuse to sign 3 revenue bills into law - Economist

Economist, Kwame Pianim, has entreated President Nana Addo Dankwa Akufo-Addo not to assent the three revenue measures bill into law.

He explained that the bill passed needs to be resent to parliament for critical examination.

Speaking on JoyNews’ Newsfile programme on Saturday, April 8, 2023, he said, “President Akufo-Addo should refuse to sign these bills.”

He also criticized the 8th parliament for its lack of due diligence in passing three new taxes.

Mr Pianim said this parliament will go down in history as one of the worst in Ghana's history.

Parliament on Friday, March 31, 2023, passed three revenue bills, namely; Income Tax Amendment Bill, Excise Duty Amendment Bill, and Growth and Sustainability Amendment Bill.

The bills are expected to rake in GH¢3.96 billion for the country once implemented.

The Growth and Sustainability Levy is expected to raise approximately GH¢2.216 billion in 2023, while the Income Tax (Amendment) Bill, 2022 which amends the Income Tax Act, 2015 (Act 896) is expected to yield revenues of approximately GH¢1.29 billion.

The Excise Duty (Amendment) Bill, 2022 amends the Excise Duty Act, 2014 (Act 878) and is expected to yield approximately GH¢455 million.

But some Ghanaians, including the business community, have tongue-lashed Members of Parliament for passing the three revenue bills.

ESA/BB