Akufo-Addo's Imposed Tax Policies Will Make The Next President Suffer - Franklin Cudjoe

-

The president of IMANI Africa, Franklin Cudjoe, has conveyed his condolences to the future president of Ghana on the imposition of taxes by the Akufo-Addo administration. 

Cudjoe expressed concern that the plethora of tax laws in existence would leave the incoming president with little room in the budget to raise money for the nation's needs.

Cudjoe stressed the value of sound financial management in an interview with Citi TV on Saturday, January 13, in order to overcome the obstacles presented by various tax laws.

READ ALSO: Minority Opposes Government's Tax Exemptions For 45 Companies

Cudjoe declared, "It's crucial that we approach this economy with extreme caution. I feel sorry for the incoming president of this nation because it means they will have to deal with the absurdity of taxation and have very little margin for error."

His comments are in response to the Value Added Tax (VAT), which was recently introduced and went into force on January 1st, on household electricity consumption. Cudjoe believes that further taxes may be imposed, given the government's stated need for increased revenue.

The imposition of the Value Added Tax on some categories of residential electricity consumers has sparked calls for its reversal from the Minority and energy experts. 

READ ALSO: Pre-Budget Survey Reveals E-Levy And Covid-19 Levy As Taxes Killing Businesses

In a letter communicating the Finance Ministry's policy to the Public Utility Regulatory Commission, Finance Minister Ken Ofori Atta stated that any electricity consumption above lifeline units would attract the value-added levy.

The ministry explained that the move is part of the government’s Covid-19 recovery program.

Comments

Post a Comment

Popular posts from this blog

Taxes Now Serve as Punishment to Businesses - Mark Badu-Aboagye

-
Image
The Ghana Chamber of Commerce and Industry's CEO, Mark Badu-Aboagye, has expressed grave concerns about the growing burden of direct and indirect taxes placed on the country's enterprises.  During an open discussion on JoyNews' PM Express, Mr. Badu-Aboagye brought attention to the mounting difficulties that businesses are facing in light of rising expenses and financial commitments, especially with regard to tax responsibilities. Related To This: Akufo-Addo's Imposed Tax Policies Will Make The Next President Suffer - Franklin Cudjoe Mr. Badu-Aboagye expressed his dismay and emphasized the unsettling consequences of the existing tax structure, describing it as harsh and onerous for companies aiming for expansion and sustainability.  He underlined, saying, "I believe that rather than helping businesses, our taxes now serve as a punishment to them. This is because they expect you to pay, but we are unable to. They are beating us but they are telling us to keep quiet.&
Read more

GJA Calls For Media Blacklist on Yendi MP for Allegedly Assaulting Journalist

-
Image
In response to allegations of assault against Mohammed Aminu M. Alabira, the Northern Regional Correspondent for Citi TV, the Ghana Journalists Association (GJA) has called for a national media boycott of Farouk Aliu Mahama, the Member of Parliament for Yendi. Important industry actors have endorsed the GJA's directive: the Media Foundation for West Africa (MFWA), the Private Newspaper Publishers Association of Ghana (PRINPAG), and the Ghana Independent Broadcasters Association (GIBA). Related To This: Hawa Koomson Threatens to Sue GJA President Over Assault Allegations The coalition asked all media outlets to uphold Farouk Aliu Mahama's blacklisting till further notice during a joint press conference on Tuesday, February 6. The media professionals were put at serious risk due to the MP's purported connections to those who could potentially pose a threat to journalists. The groups emphasized, "All media houses must refrain from providing any coverage, interviews, or a
Read more

Use Emission Tax Funds to Support EPA - Professor Kofi Amegah

-
Image
The University of Cape Coast's renowned environmental and nutritional epidemiology lecturer, Professor Kofi Amegah, has suggested that money from emission levies be used to support environmental protection organizations.  During his February 1 appearance on The Pulse on JoyNews, Professor Amegah emphasized how vital it is to improve the Environmental Protection Agency's (EPA) capacity to efficiently track pollution levels and strengthen environmental conservation measures. Related To This: Implementation of Emissions Levy Act Commences Today Professor Amegah emphasized the need to reallocate a portion of the proceeds from the emission tax in order to relieve the EPA's budgetary constraints, given its limited resources. He highlighted that such support would enable the acquisition of reference-based monitors, which, when installed in urban areas, can furnish essential data vital for formulating effective air pollution control policies. Additionally, the resulting data would
Read more