Ghana to introduce new tax measures in its midyear budget
Ghana’s Finance Minister Ken Ofori-Atta speaks during the G-24 news conference at the World Bank/IMF Spring Meetings, in Washington, Thursday, April 19, 2018. ( AP Photo/Jose Luis Magana)
JOHANNESBURG – Ghana is to introduce new tax measures in its midyear budget which Accra says is crucial to improving revenue generation for the next half of 2018.
The Ministry of Finance said the measures were needed to maintain fiscal stability to enable the government to meet its expenditure projections for the rest of the year, Ghana Web reported on Monday.
A midyear budget, outlining the new policy measures, will be presented to parliament later this month by Finance Minister Ken Ofori-Atta.
Kweku Kwarteng, Deputy Minister in Charge of Revenue at the Ministry of Finance, further explained that the new tax measure would ultimately boost private sector growth without burdening it while simultaneously creating fiscal space for the government over an extended period.
– African News Agency (ANA)
Source: iol.co.za