Ghana’s Minister of Finance, Ken Ofori Atta has stated that the NPP government will not increase the Value Added Tax (VAT) as propagated by the Minority in Parliament, but will undertake prudent measures to get the country’s economy working for all. According to him, the NPP government will not deviate from its principle of moving the Ghanaian economy from that of taxation to production.
Mr Ofori Atta said the decision by government to abolish some taxes they classified as ‘nuisance’ taxes in 2017 is yielding the desired results.
” The economy has responded positively. We are not collecting as much as we should, but the solution is not the imposition of many taxes,” he said.
The Minster stated that what the Nana Addo government intends to do is to ensure that the relevant laws are complied with, revenue leakages will be flagged, and ensuring that there is value for money of all projects that government will undertake.
Contrary to earlier rumours of a possible increment in VAT, the Finance Minster stated unequivocally that “there will be no increment in VAT”.
The Government of Ghana is planning to realign the activities of state auditing departments to enhance their activities. Ghana’s Finance Minister, Ken Ofori Atta made this revelation today as he was delivering this year’s Mid-Year Budget Review.
According to the Minister, plans are far advance to realign the internal auditing agency to ensure efficiency.
Story By: Samuel Kojo Brace/Skyy News/Takoradi