Before the House adjourns for the holiday break, Parliament is anticipated to approve the E-Levy amendment bill later today.
Following warnings from the Minority, finance minister Ken Ofori-Atta decided to reinstate the 100 cedi daily barrier exemption.
When the Bill is passed, the levy’s rate will drop from 1.5 to 1 percent.
Starr News sources claim that following the government’s compromise, the minority has now opted to back the bill’s approval.
The 2.5 percent increase in the VAT rate is one additional revenue strategy that the NDC MPs have not yet mentioned.
Barring any changes, the VAT amendment bill is expected to be brought on the floor.
Already Ken Ofori-Atta has appealed to parliament not to frustrate any government revenue measure announced in the 2023 budget warning such a move will further exacerbate the economic crisis.