The Ministry of Finance has reassured the public that there are no plans to implement additional taxes on Ghanaians in the upcoming mid-year budget.
This affirmation comes in response to rumors circulating about the possibility of new taxes and concerns raised by various stakeholders regarding the substantial tax burden faced by both businesses and households. These concerned parties are urging the government to consider reducing or eliminating some taxes to ease financial strains on businesses.
Representing the finance ministry, Deputy Finance Minister Dr. Alex Ampaabeng affirmed the government’s stance against introducing a supplementary budget, echoing statements made by Finance Minister Dr. Mohammed Amin Adam.
“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.
“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 said in a report on myjoyonline.com.
Dr. Ampaabeng stated that while the government is not planning to introduce new taxes, the finance ministry is actively exploring alternative methods and avenues for generating revenue.