2020 Budget: Government of Ghana not introducing new taxes, according to Finance Minister, here’s why

Ghana’s Finance Minister, Ken Ofori-Atta has disclosed that the government has no plans of introducing new taxes in the 2020 fiscal year.

Finance Minister, Ken Ofori-Atta

According to him, the government will, instead, boost revenue collection to enable it to meet revenue targets.

Mr Ofori-Atta said this while presenting the country’s 2020 budget statement on the floor of Parliament on Wednesday, November 13, 2019.

He noted that the government will lend the necessary support to the Ghana Revenue Authority to boost revenue generation.

The Finance Minister further indicated that government will work with the existing tax systems to meet its revenue targets, contrary to the view of the opposition that the 2020 budget was going to contain a myriad of new taxes.

“We will take radical policy and institutional reforms towards raising our tax-to-GDP ratio over the medium term from under 13 percent currently to around 20 percent. The focus will be on efficiency and base-broadening rather than imposing new taxes on our people and businesses,” he said.

Adding that “This way, we can raise our domestic contribution to our ambitious transformation agenda, in line with the Ghana Beyond Aid vision. Mr Speaker as you can see, we have not imposed any new taxes”.

The government has come under attack recently for the introduction of new taxes and increasing other ones including the controversial Communication Service Tax and the Petroleum tax.

JOIN OUR PULSE COMMUNITY!

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke

Recommended articles

Amazing transformation of 21-year-old man bullied for being born different (video)

Amazing transformation of 21-year-old man bullied for being born different (video)

Abel Mutua's movie makes over Sh4M in 5 days

Abel Mutua's movie makes over Sh4M in 5 days

Sh79,000 per month jobs for Kenyans without degrees

Sh79,000 per month jobs for Kenyans without degrees

How Janet Mbugua's husband Eddie landed Sh240 million deal with Chinese investors

How Janet Mbugua's husband Eddie landed Sh240 million deal with Chinese investors

5 things you should never do to please a woman

5 things you should never do to please a woman

British MP claims she didn't know her flat was owned by the Kenyatta family

British MP claims she didn't know her flat was owned by the Kenyatta family

Janet Mbugua's husband thrown at the centre of nasty fight at Ole Sereni Hotel [Video]

Janet Mbugua's husband thrown at the centre of nasty fight at Ole Sereni Hotel [Video]

Tiwa Savage breaks silence after her raunchy tape leaked online [Screenshot]

Tiwa Savage breaks silence after her raunchy tape leaked online [Screenshot]

Diamond Platnumz splashes Sh5.2 Million on new Gold & Diamonds Chain [Video]

Diamond Platnumz splashes Sh5.2 Million on new Gold & Diamonds Chain [Video]