The recent passing of three revenue bills by Parliament has sparked debate on the magnitude of taxes being imposed by the NPP government.
Some have even gone to the extent of accusing the NPP of reneging on its promise recalling how t to lessen the tax burden on Ghanaians and businesses by abolishing some taxes the then NDC government introduced, which it described as “nuisance taxes”.
The accusation is that the NPP has reneged on this promise.
Among these taxes the erstwhile NDC Government introduced were: the 17.5 percent VAT/NHIL on financial services, 17.5 percent VAT/NHIL on imported medicines, 17.5 percent VAT/NHIL on domestic airline tickets, and an increase in the Flat VAT Rate from 3% to 15%.
Below are the taxes reduced or abolished under the Akufo-Addo government:
1. Abolished the 17.5% VAT/NHIL on real estates
2. Abolished the 17.5% VAT/NHIL on selected imported medicines, that are not produced locally
3. Abolished the 17.5% VAT/NHIL on financial services
4. Abolished import duty on the importation of spare part…
Source: www.peacefmonline.com
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