Parliament passes bill that increases VAT by 2.5%

Presenting the 2023 Budget, the Finance Minister Ken Ofori Atta announced government’s decision to increase the Value Added Tax (VAT) by 2.5 percent.

This will move the tax policy from its current percentage of 12.5 per cent to 15 per cent.

The approval of the Bill was preceded by a heated debate on the floor of the House with the ruling New Patriotic Party (NPP) Members of Parliament (MPS) arguing in favour of the Bill while the opposition National Democratic Congress MPs were against it.

Sources:

• myjoyonline.com
• newsghana.com.gh

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