No New Taxes In Mid-Year Budget

Dr. Alex Ampaabeng


Deputy Finance Minister, Dr. Alex Ampaabeng, has announced that the government will not impose new taxes on Ghanaians in the upcoming mid-year budget.

In an interview on local TV station, Channel One, Dr. Ampaabeng stated that the government would not request a supplementary budget. This decision, he mentioned, was disclosed by the sector Minister, Dr. Mohammed Amin Adam.

Dr. Ampaabeng however emphasised that they would explore all possible avenues to increase revenue.

He believes there are significant opportunities within the existing tax system that can be leveraged for revenue generation.

However, he did not disclose specific details about the loopholes in the tax system.

“There are a lot of conversations ongoing, but one thing I can say on behalf of my Minister [Dr Mohammed Amin Adam] is that there won’t be new taxes in this mid-year budget. But, going forward, we are looking for all avenues to make sure that we enhance revenue.

“I believe there are a lot of opportunities within the tax system for us to rake in revenue. It’s about improving efficiency. It’s about dealing with leakages in the tax system, it’s about engaging the taxpayers to accept responsibilities. There are leakages, but I don’t want to pre-empt anything,” he said

The mid-year budget review is anticipated to be presented in Parliament by the finance minister in July or August 2024.


A Daily Guide Report