Despite the country’s pandemic being resolved, the government still intends to rake in more revenue through the COVID-19 Health Recovery Levy.
Consumers and the business community, who have been pressing for the tax’s elimination because they claim it is a factor in the rising cost of goods and services, may be disappointed by this.
For instance, the Importers and Exporters Association of Ghana has stated that the government must do everything possible to support business interests, particularly by eliminating the irksome levies that make doing business in Ghana expensive.
President Akufo-Addo noted that despite the 1% tax’s unpopularity, the government will continue to impose it in order to close the fiscal shortfalls brought on by the pandemic while addressing other expenditure challenges.
“The COVID Health Recovery Levy that was introduced to help fill some of the expenditure holes might not be the most popular tax, but I entreat all of you to bear with us”, the President said in his address on Sunday.
The Covid-19 Health Recovery Levy is a stand-alone levy applied to the gross value of taxable supplies of goods and services provided under the Standard Rate and VAT Flat Rate Schemes.
“Let me make it clear that COVID expenditures, essentially unplanned, have been subject, at my instigation, to audit by the Auditor-General, and are going through parliamentary processes. We all deserve to be reassured that the crisis was not used as a cover for corrupt practices”, the President added.
Source: Citinewsroom
