Business News of Tuesday, 14 November 2023
Source: www.ghanaweb.live
2023-11-14Government plans to raise GH¢11 billion through new taxes in 2024 Budget – John Jinapor
play videoJohn Jinapor, Ranking Member on Parliament’s Mines and Energy Committee
Member of the Parliament for Yapei-Kusawgu, John Jinapor, has asserted that government plans to raise about GH¢11 billion through the imposition of new taxes which will be contained in the 2024 Budget and Economic Policy.
The revelation, according to the lawmaker comes after the Finance Minister,
Read full articlehref='/GhanaHomePage/people/person.php?ID=3400'>Ken Ofori-Atta, indicated the plan to the Finance Committee in Parliament.
Addressing journalists in parliament ahead of November 15 budget presentation, John Jinapor described the move as improper and unacceptable to the already burdened Ghanaian taxpayer.
“We just met the Minister of Finance [Ken Ofori-Atta] at the Finance Committee and the minister indicated that he intends to raise an additional GH¢11 billion which is about 1 percent of GDP but we have told him that we think that the people have been taxed so much so it will be inappropriate to come with new taxes rather the minister should look at cost cutting,” Jinapor stressed.
“I think that it is improper and unacceptable to further come out with new taxes and increase the tax burden on Ghanaians,” he added.
Meanwhile, the Finance Minister Ken Ofori-Atta is expected to deliver the 2024 Annual Budget Statement and Economic Policy to Parliament on Wednesday, November 15, 2023.
Various groups and associations within the business community have clamored for the reduction or removal of certain taxes to cushion businesses and the private sector which have been reeling from the impact of the economic crisis.
MA/NOQ
