The Deputy Finance Minister, Dr. Alex Ampaabeng, has confirmed that the government will not impose new taxes on Ghanaians in the forthcoming mid-year budget.
Amidst growing concerns from stakeholders about the heavy tax burden on businesses and households, calls have been made for the reduction of some taxes to alleviate financial stress.
In an interview with Bernard Avle on The Point of View on Channel One TV, Dr. Ampaabeng revealed that the government would not be requesting a supplementary budget, as stated by the sector Minister, Dr. Mohammed Amin Adam.
While refraining from introducing new taxes, Dr. Ampaabeng emphasized the government’s commitment to exploring all possible avenues to increase revenue. He pointed out significant opportunities within the existing tax system that could be leveraged for revenue generation.
“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,” he stated.
“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 added.
The mid-year budget review is expected to be presented in Parliament by the finance minister in July or August.
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