Tax cut details soon - Kojo Oppong Nkrumah

Although President Nana Addo Dankwa Akufo-Addo will be highlighting tax reduction in his maiden State of the Nation Address today, 21 February, the details of that will be contained in the government’s economic budget to be presented to parliament by Finance Minister Ken Ofori-Atta, Kojo Oppong Nkrumah, Member of Parliament for Ofoase Ayirebi, has said.

According to him, the president will not be speaking to all the issues in all the 36 ministries and agencies or departments under them but will touch on some key areas. Those details, especially relating to the reduction of taxes, will be given by the Finance Minister a week after the State of the Nation Address.

Mr Akufo-Addo is expected to touch on how he will implement all his election promises including the creation of one factory in each of the 216 districts across the country, the implementation of the Free Senior High School programme, reduction in taxes, job creation, and several others.

Speaking on State of Affairs on GhOne television hosted by Nana Aba Anamoah on Monday, 20 February, Mr Nkrumah said: “Traditionally, tax measures or revenue measures usually go in the Income Tax Act. ... As we have mentioned, the Finance Minister will be coming to do a job just about a week after the president’s address.”

“We know that the president will speak broadly to some of his economic interventions, including a bit of stimulus here and there, but the detail of the tax policy will come in what the Finance Minister Ken Ofori-Atta will outline when he comes to parliament to deliver the government’s economic policy.”