Government of Ghana through the Ministry of Finance is on the verge of introducing 5 additional taxes and amendments for the consideration of Parliament when the House resumes on June 6, 2023.
In a tweet by Hon. Frank Annoh-Dompreh, Member of Parliament for Nsawam/Adoagyiri Constituency who doubles as the Majority Chief Whip, the Ministry of Finance among other things will present to Parliament; Customs Amendment Act, Income Tax Amendment Regulations, 2023 and VAT Amendment Regulations.
Per the tweet, Parliament is expected to consider two new revenue generation apparatus in the form of Revenue Administration Regulations, 2023 and Insurance Regulations, 2023.
“These are scheduled to be presented to Parliament from the Ministry of Finance: 1. Customs (Amendment) Act. 2. Revenue Administration Regulations, 2023. 3. Income Tax (Amendment) Regulations. 4. VAT (Amendment) Regulations. 2023. Etc..” the MP tweeted.
The development, as put out by the Majority Chief Whip means, Parliament, just after passing the Income Tax Amendment Bill, Excise Duty Amendment Bill and Growth and Sustainability Amendment Bill into law on April 1, 2023 to enable government generate about GH¢2.2 billion annually will pass the five revenue generation bills to enable government meets conditions imposed on Ghana after having secured a 3 billion US Dollar IMF Extended Credit Facility that will steer the country back to economic prosperity.