Ghanaian Finance Ministry has recently announced that the 2020 Budget won’t include any increase in the taxes, however, a few revisions would be made in the already made tax system. The annual budget for the year 2020 is going to be presented to the parliament in the coming November 2019.
The Finance Ministry has already started taking inputs of the stakeholders into the 2020 budget, in order to address a few issues highlighted by the concerned citizens including Civil Society Groups. While speaking exclusively to the media, the Deputy Finance Minister, Kwaku Kwarteng revealed the fact that the Government is focusing on reviewing the reliefs in the on-going budget.
He said, “In next year, we have no plans of introducing new taxes. We will continue to review some of the reliefs we gave. We are reviewing the Benchmark value because we are getting feedback from domestic manufacturers that in some specific areas, this policy is counterproductive.”
Mr. Kwaku Kwarteng also expressed that the officials are very concerned about those who are on relief when it comes to paying the taxes. The criteria for the number of people who are not eligible to pay taxes would be revised in the upcoming budget.
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