The three new revenue bills by the government has been passed by the parliament on Friday, 31st March, 2023.
The bills which include the Excise Duty Amendment Bill, the Income Tax Amendment Bill and the Growth and Sustainability Levy Bill according to reports seek to generate GH¢4 billion annually to boost domestic revenue mobilization.
These new bills will also aid the government in his quest to secure a $3 billion deal from the International Monetary Fund (IMF).
The Finance Minister, Ken Ofori-Atta prior to the implementation of these bills pleaded with the lawmakers to pass these bills to help the government secure the bailout from the IMF.
He furthered that the implementation of these taxes will aid the country to recover from the current economic shambles.
The minority caucus in parliament opposed the implementation of these new bills on grounds that these bills have nothing to do with the IMF deal and it’s just another way by the government to overburden Ghanaians with more taxes.
However, these three bills were passed by parliament by a 136-137 majority decision during an extended sitting of the house.
Source: 1Familyradio
