Talk Tax Increased by 3%

The Finance Minister Ken Ofori-Atta has announced an upward review in a number of taxes hoping to raise more revenues to implement the government’s programmes and policies.

He made this known when he appeared before Parliament to present the mid-year budget.

Ken Ofori-Atta said in his presentation that the government is proposing an upward adjustment in the Road Fund Levy, the Energy Debt Recovery Levy; and the Price Stabilisation and Recovery Levy to bring the ratios close to twenty-one percent to help bridge the financing requirements.

“Government proposes to increase the Energy Sector Levies by GHp 20 per litre for petrol and diesel and GHp 8 per kg for LPG, so as to increase the inflows to enable Government issue additional bonds to pay down our energy sector debt obligations. Based on current indicative prices for petrol and diesel this translates to GHp 90 per gallon,” he said.

He further indicated that the communication service tax should be increased the tax to 9% to develop the foundation for the creation of a viable technology ecosystem in the country.

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