Mahama 'stings' Akufo-Addo over proposed new taxes
Former President John Dramani Mahama
Former president, John Dramani Mahama is unhappy about reports that government will increase taxes in its mid-year budget review.
Read full articleAhead of the mid-year budget presentation to Parliament scheduled for Thursday, Special aide to President Nana Akufo-Addo and leading member of New Patriotic Party Gabby Asare Otchere-Darko, in a Facebook post hinted that government will increase tax to raise more revenue.
“Will you support a VAT increase to keep your lights on, your secondary schools filled, your school kids fed, your streets clean, your streets safe, young graduates employed, and decent, affordable homes built for working families?” his post read.
Mr. Mahama is of the greatest conviction the imposition of new taxes will worsen the tax burden on Ghanaians and also defeat the promises the New Patriotic Party (NPP) made on assuming office in 2017.
“The Ghanaian business sector has never experienced such difficult times in the history of the 4th Republic. Akufo-Addo's proposed new taxes would cripple businesses further and also defeat his much-touted mantra of "from taxation to production"” he tweeted, Friday.
Reports suggest government is considering an increase in Communications Service Tax from 6% to 12%, an expanded stabilisation tax, collateralising royalties from minerals to enable government raise loans, increased social security (SSNIT) contributions to the NHIS, introduction of Financial Service Tax as well as mandated minimum corporate tax.
The government is also likely to increase the Value Added Tax (VAT) from 17.5% to 21%.
