Deputy Finance Minister Confirms Decision Not To Introduce New Taxes

Ghana’s Finance Minister Dr Mohammed Amin Adam (left) and his Deputy Dr. Alex Ampaabeng (right)

Ghana’s Deputy Finance Minister, Dr. Alex Ampaabeng, has assured the public that the government will not impose new taxes in the upcoming mid-year budget.

This announcement comes in response to widespread concerns expressed by stakeholders regarding the substantial tax burden imposed on households and businesses, who have called for the reduction or elimination of some taxes in order to alleviate financial pressures.

Dr. Ampaabeng confirmed the government’s decision not to introduce a supplementary budget, as communicated by the Finance Minister, Dr. Mohammed Amin Adam, in an interview with Channel One TV on June 12.

Dr. Ampaabeng betoned the government’s commitment to avoiding new taxes and their intention to investigate alternative revenue sources.

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He said that the current tax system has a lot of opportunities that could be used to make money in a good way.

“There are lot of conversations ongoing, but one thing I can say on behalf of my Minister [Dr Mohammed Amin Adam] is that there won’t be new taxes in this mid-year budget. But, going forward, we are looking for all avenues to make sure that we enhance revenue.

“I believe there are a lot of opportunities within the tax system for us to rake in revenue. It’s about improving efficiency. It’s about dealing with leakages in the tax system, it’s about engaging the taxpayers to accept responsibilities. There are leakages, but I don’t want to pre-empt anything,” he said.

Credit: Ghana’s Channel One TV

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