VAT increase: Akufo Addo calls emergency Cabinet meeting

President Akufo Addo has called an emergency Cabinet meeting on Tuesday to discuss the options available for raising additional revenues to prosecute government’s several social interventions programmes.

According to sources, the sole agenda of that crunch meeting is the proposal by the Economic Management Team led by Vice President Dr. Mahamudu Bawumia to boost revenue.

There’s been a public backlash against reports of a possible increase in taxes to be announced by Finance Minister, Ken Ofori Atta during this year’s Mid-Term Budget review.

President Akufo Addo according to sources within the Presidency has not made any firm decision yet on the controversial issue of an increase in VAT because of his own concerns about its implications on most Ghanaians.

He’ll however arrive at a decision after he hears all the strong arguments and discusses the options available with his ministers.