Deputy Finance Minister Dr. Alex Ampaabeng has assured the public that the government will not introduce new taxes in the forthcoming mid-year budget.
This decision comes in response to widespread concerns from stakeholders regarding the heavy tax burden on businesses and households, who have called for tax reductions or eliminations to ease financial pressures.
In an interview with Accra-based Channel One TV on Wednesday, June 12, Dr. Ampaabeng confirmed that the government will also refrain from introducing a supplementary budget, as previously communicated by Finance Minister Dr. Mohammed Amin Adam.
Dr. Ampaabeng emphasized the government’s commitment to seeking alternative revenue enhancement methods instead of imposing new taxes. He highlighted the potential within the existing tax framework for generating additional revenue.
“There are lot of conversations ongoing, but one thing I can say on behalf of my Minister [Dr Mohammed Amin Adam] is that there won’t be new taxes in this mid-year budget. But, going forward, we are looking for all avenues to make sure that we enhance revenue.”
“I believe there are a lot of opportunities within the tax system for us to rake in revenue. It’s about improving efficiency. It’s about dealing with leakages in the tax system, it’s about engaging the taxpayers to accept responsibilities. There are leakages, but I don’t want to pre-empt anything”, he said.
