Financial Analyst Nii Yarboi Annan says the 2023 Budget and Financial Policy Statement of Ghana gives the impression of a government desperate for money.
This according to Nii Yarboi Annan is obvious from the tax policy proposals government has included in the 2023 budget in an attempt to raise over GH¢140billion in revenue in 2023 to meet its expenditure budget of over GH¢200billion.
Government is proposing to increase VAT by 2.5 percentage points, a move which comes in the wake of the closure of shops in Kumasi over the placement of Ghana Revenue Authority personnel in front of shops to ensure compliance with VAT.
Nii Yarboi Annan however tells Sena Nombo on the Gold Morning Conversation, the move and other tax measures would only bury businesses already struggling to stay afloat.
He predicts 20% of businesses will collapse by the end of the first half of 2023 if government implements the tax policies in the budget.
Watch Nii Yarboi Annan speak to Sena Nombo