Government has no intention to introduce new taxes in the mid-year budget – Finance Ministry

The Ministry of Finance has assured the general public that the government has no intention of imposing new taxes on Ghanaians in the upcoming mid-year budget.

The assurance follows rumours of the introduction of new taxes and concerns from stakeholders about the heavy tax burden on businesses and households. These concerned stakeholders are calling on the government to reduce or scrap off some taxes to alleviate financial pressures on businesses.

Speaking on behalf of the finance ministry, Dr. Alex Ampaabeng, a deputy finance minister confirmed the government's decision not to introduce a supplementary budget, as communicated by the Finance Minister, Dr Mohammed Amin Adam.

“There are lot of conversations ongoing, but one thing I can say on behalf of my Minister [Dr Mohammed Amin Adam] is that there won’t be new taxes in this mid-year budget. But, going forward, we are looking for all avenues to make sure that we enhance revenue.

“I believe there are a lot of opportunities within the tax system for us to rake in revenue. It’s about improving efficiency. It’s about dealing with leakages in the tax system, it’s about engaging the taxpayers to accept responsibilities. There are leakages, but I don’t want to pre-empt anything," he said in a report on myjoyonline.com.

Dr Ampaabeng mentioned that although the government would not be introducing new taxes, the finance ministry is exploring other alternatives and avenues for revenue generation.

EAN/MA

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