Parliament has passed the Excise Duty Amendment Bill 2022, the Growth and Sustainability Levy Bill, 2022, the Ghana Revenue Authority Bill 2022, and the Income Tax Amendment Bill 2022.
The financial bills presented to Parliament by the government seek to rake in about 4 billion Ghana Cedis annually as part of domestic revenue mobilization.
The bills are also crucial to aid the government’s quest to facilitate the Board Approval for the $3 billion International Monetary Fund (IMF) Programme staff-level agreement.
Speaking on Plan B FM Easter holiday edition of the morning show NKOSUONSEM, Dr. Awuriki Yeboah constitutional and political analyst said, the passage of the three new taxes is politically expedient but not economically viable because it will hurt businesses which will lead to laying off staff and job losses that will create more hardships in the country.
He emphasized that the govt has failed to establish voluntary tax compliance among the citizens because most of the taxpayers in the country do believe that the taxes they pay have not been used as expected.
He added that Ghanaians find it difficult to appreciate what taxes they owe and how tax revenues are used, and also see corruption in the revenue mobilization and tax evasion among their peers as widespread.
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