VAT To Be Increased

President Kufuor took part in an anti-VAT demo in 1995
There are very strong indications that the Kufuor administration is still considering an increase of the VAT rate from 12 and a half to 15 per cent by March. This will be in addition to the 95 per cent increase in petroleum products and increases in utility tariffs.

The President has agreed that the VAT increase will form part of the 2003 budget to be presented in March. The increase was first suggested by the International Monetary Fund (IMF).

The decision of the government to increase the VAT rate is particularly interesting in view of the fact that President Kufuor took part in an anti-VAT demonstration across the country in 1995.

Prominent members of the current government took part in the anti-VAT demonstrations in 1995 during the NDC regime. Many political watchers see an increase in the VAT rate as a betrayal of the masses, especially, those who died on May 11, 1995.

President Kufuor took part in an anti-VAT demo in 1995
There are very strong indications that the Kufuor administration is still considering an increase of the VAT rate from 12 and a half to 15 per cent by March. This will be in addition to the 95 per cent increase in petroleum products and increases in utility tariffs.

The President has agreed that the VAT increase will form part of the 2003 budget to be presented in March. The increase was first suggested by the International Monetary Fund (IMF).

The decision of the government to increase the VAT rate is particularly interesting in view of the fact that President Kufuor took part in an anti-VAT demonstration across the country in 1995.

Prominent members of the current government took part in the anti-VAT demonstrations in 1995 during the NDC regime. Many political watchers see an increase in the VAT rate as a betrayal of the masses, especially, those who died on May 11, 1995.