Radio Gold 90.5 FM
  • Home
  • News
  • Politics
  • Sports
  • Business
  • Technology
  • Education
  • Opinion
  • World
  • Insurance
  • Radio
No Result
View All Result
  • Home
  • News
  • Politics
  • Sports
  • Business
  • Technology
  • Education
  • Opinion
  • World
  • Insurance
  • Radio
No Result
View All Result
Radio Gold 90.5 FM
No Result
View All Result
Home Uncategorized

Minority kicks against proposed upward review of VAT

by Ahmed Kabore
November 28, 2022
in Uncategorized
Reading Time: 2 mins read
0
vat
15
SHARES
85
VIEWS
Share on FacebookShare on Twitter
ADVERTISEMENT

The Minority in Parliament wants the government to reconsider the proposed 2.5 percent upward review of the Value Added Tax.

Speaking to journalists, the Ranking Member on the Trade, Industry and Tourism Committee of Parliament, Emmanuel Armah Kofi Buah, bemoaned the impact of such a move on consumers.

He lamented the hardships already facing Ghanaians due to the cedi’s poor performance against major currencies across the world.

He said the increase in VAT will have a very bad bearing on consumers because the cost and payment of the tax will be passed on to consumers, increasing the pricing of goods on the Ghanaian market.

ADVERTISEMENT

“In the midst of the cedi losing over 50 percent of its value, high-interest rates, you take the cedi, and it has depreciated so much, and we are talking about increasing VAT. What that really means is that ultimately, this is going to be passed on to consumers. It means the consumers must be brazing themselves for really high prices, more than what we currently have.”

He, therefore, admonished the government to consider short-term measures.

“As we discuss the economy and how we get out, the short-term measures are important, otherwise the crises are going to be so much.”

The Finance Minister, Ken Ofori-Atta on Thursday, November 24 announced a 2.5 percent increase in Value Added Tax effective January 2023.

He made the announcement when he delivered the 2023 budget statement in Parliament.

“Mr. Speaker, the demand for roads has become the cry of many communities in the country. Unfortunately, with the current economic difficulties and the absence of a dedicated source of funding for road construction, it is difficult to meet these demands. In that regard, we are proposing the implementation of new revenue measures. The major one is an increase in the VAT rate by 2.5 percentage points.”

Share15TweetSendShare
Previous Post

‘God will provide our daily bread’ – Empress Gifty reacts to the news of her husband’s dismissal

Next Post

We have enough gold to exchange for oil – Deputy Energy Minister

Related Posts

Exempt sanitary pad imports from import duty and VAT – NDC Women Organizer champions cheap pads agenda
Culture

Exempt sanitary pad imports from import duty and VAT – NDC Women Organizer champions cheap pads agenda

May 31, 2023
Dormaahene
Uncategorized

I will remove any president or MP who accepts LGBTQI+ – Dormaahene warns

April 12, 2023
Police officer
Uncategorized

The police officer who knelt and begged Axim gang leader is ‘wise’ – Ex-police capo

April 5, 2023
Load More
Next Post
Gold

We have enough gold to exchange for oil – Deputy Energy Minister

Jordan Ayew

Jordan Ayew trends for performance in Ghana's game against South Korea

Kudus

Kudus credits teammates for his match-winning performance against South Korea

  • Some Ashaiman ladies selling their egg

    Some Ashaiman ladies selling their egg, ovaries for Ghc3000 or iPhone with portrait imagery — Report

    239 shares
    Share 239 Tweet 0
  • From Tears to Joy, Kwabena Yeboah Smiles Again, Africa to Get 10 Places At The World Cup.

    73 shares
    Share 73 Tweet 0
  • VIDEO: Details about Lake Bosomtwe s3xtape emerge as bonking lovers get stuck

    55 shares
    Share 55 Tweet 0
  • Headmistress withheld results as Tyrone Marghuy tops the class in Science & Elective Maths, despite admission woes

    244 shares
    Share 244 Tweet 0
  • Am surprised at how everybody is now talking about Paul’s alleged cheating- Barker

    19 shares
    Share 19 Tweet 0

radio gold 90.5 fm is one of the first private radio station in Ghana. radio gold 90.5 fm Your Power Station

Recent Posts
  • Exempt sanitary pad imports from import duty and VAT – NDC Women Organizer champions cheap pads agenda May 31, 2023
  • ‘Sad what politics can do to a fine mind’ – Mahama slams Akomea May 26, 2023
  • You will lead Ghana to a future of prosperity, development, and unity – Concerned NDC members in UK and Ireland congratulates JDM May 15, 2023

© 2018 Radio Gold 90.5 fm –  All rights reserved. Own and operated by Network Broadcasting Company Ltd.

  • Contact
  • Privacy Policy
  • Terms and Conditions
  • Advertise
  • Disclaimer
No Result
View All Result
  • Home
  • Politics
  • News
  • Business
  • Culture
  • National
  • Sports
  • Lifestyle
  • Travel
  • Opinion

© 2023 Radio Gold 90.5 fm - Operated and own by NewbyNetwork Broadcasting Company Ltd Radio Gold.

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT