Ghana parliament passes three new taxes

- Advertisement -

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 have all been approved by Parliament.

The legislation is critical to the government’s efforts to gain board support for the $3 billion International Monetary Fund (IMF) Program staff-level agreement.

Previously, the minority in Parliament expressed its opposition to the measures.

George Ricketts-Hagan, a member of the minority party, declared his group’s intention to oppose the legislation as a strong warning to the government that it cannot be careless with its spending and expect Ghanaians to foot the bill.

- Advertisement -

READ ALSO: Ken Ofori Atta Is Ghana’s Best Finance Minister Since 1957 – Gov. Spokesperson

The Public Utilities Regulatory Commission’s (PURC) tariff adjustment, the release of the Auditor-General’s Report on COVID-19 spending, and the onboarding of the Ghana Education Trust Fund (GETFund), District Assemblies Common Fund (DACF), and the Road Fund onto the Ghana Integrated Financial Management Information System are all actions taken by the government as part of efforts to comply with the IMF’s requirements in order to be eligible for a bailout.

Recently, IMF staff and the Ghanaian authorities reached a staff-level agreement on economic policies and reforms to be supported by a new three-year arrangement under the Extended Credit Facility (ECF) of about US$3 billion.

- Advertisement -



Please enter your comment!
Please enter your name here