Business Politics

Brace up for more taxes in 2023 budget – Minority to Ghanaians

The Minority in Parliament has said that the 2023 Budget will exacerbate the suffering of Ghanaians.

This, they claim, is because government intends to introduce a number of taxes.
The 2023 Budget is expected to be presented in Parliament on Thursday, 24th November, 2022.

Speaking to journalists ahead of the presentation, a Member of the Finance Committee, Thomas Ampem Nyarko alleged that government will increase the VAT rate to 20 percent from the current 17.5 percent.

“In fact, what we are hearing is that government intends to increase VAT by 2.5 percent,” he alleged.

He also claimed that there are rumours that income taxes will be increased, adding that exemptions on Mobile Money will also be removed.

Mr. Nyarko however said the Minority will not support these new taxes, especially an increase in VAT due to the present harsh economic climate.

“We will not accept this 2.5 percent increase in VAT because that will be killing. We are not saying no tax at all, because government programmes must run. However, all this when introduced is just going to kill Ghanaians,” he said.

According to him, government ought to present a clear expenditure cut in the 2023 Budget, considering the hardship of Ghanaians.

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