Deputy Finance Minister
Dr. Alex Ampaabeng has confirmed that the government will not introduce new
taxes in the forthcoming mid-year budget.
This announcement comes amidst concerns from stakeholders about the heavy tax
burden on businesses and households, with calls for some tax relief to
alleviate financial pressure.
In an interview on Channel One TV, Dr. Ampaabeng clarified that the government
would not seek a supplementary budget, a decision revealed by the Finance
Minister, Dr. Mohammed Amin Adam.
While ruling out additional taxes, Dr. Ampaabeng stressed that the government
would explore various ways to boost revenue. He noted that there are untapped
opportunities within the existing tax system that could be leveraged for better
revenue generation.
“There are many discussions ongoing, but one thing I can confirm on behalf of
my Minister [Dr. Mohammed Amin Adam] is that there won’t be new taxes in this
mid-year budget. However, we are exploring all avenues to enhance revenue,” he
said.
Dr. Ampaabeng emphasized the importance of improving efficiency, addressing
leakages in the tax system, and engaging with taxpayers to fulfill their
responsibilities, though he did not provide specific details on the potential
loopholes.
The mid-year budget review is expected to be presented to Parliament by the
finance minister in July or August.
Source: graphic.com.gh