The government of Ghana will introduce new tax measures this month aimed at shoring up revenue in order to sustain the government’s ambitious flagship programs, Deputy Minister for Finance, Kwaku Kwarteng has said.
The Deputy Minister told Xinhua there was the need to close the ensuing gaps observed in budget implementation.
Minister for Finance, Kenneth Ofori-Attah is expected to present the Mid-Year Budget Review to parliament this month and his deputy disclosed that new tax measures would be included in the budget review.
“As has already been indicated, in the mid-year review to parliament we intend to introduce some tax measures,” Kwarteng indicated.
Although there has been an observed improvement in revenue for 2017 and 2018 relative to the previous years, Kwarteng maintained that the revenue being generated was still insufficient, to cater for the “ambitious initiatives” rolled out by the government.
“We have chosen at least in the short run to introduce these measures as a way of dealing with the revenue gaps that we are seeing. But ultimately we will remove taxes wherever we can,” he added. Enditem