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A Lecturer of the University of Cape Coast (UCC) in the Department of Finance and Accounting, Seyram Kawor has said that after this mid-year budget review he will be surprised to hear there is a Value Added Tax (VAT) hike.
He referred the current government, New Patriotic Party (NPP),to their first reading of the budget. When the party raised issue about some “nuisance” taxes, and their alleged claim to eliminate some of these taxes. Again, the NPP spoke of no taxation but only focus on production and manufacturing in order to boost the economy.
According to Seyram Kawor, the NPP insinuated that “taxation is a lazy person approach to collect revenue” so for them to reveal an increase in taxes in this mid-year budget review today (Thursday) will be like they have gone against what they said.
Speaking to PINK FM morning show host, he remarked, “any increase in taxes now will change the dynamics of our economy, an increment of it will rather escalate inflation, and pricing of commodities making the consumer to suffer”.
Mr. Kawor called on government to look at its expenditure and also cut down on some taxes paid over the period. He also raised concern about the fact that there is less education on what taxes paid are used for by the government.
The Financial Lecturer expressed confidence in this administration. He ended by saying that the government interest is for the public at large and not for any particular person.
Meanwhile, the General Secretary of Industrial and Commercial Workers Union, Mr. Solomon Kotei hoped that, the Financial Minister Ken Ofori-Attah would not give Ghanaians words that will cause panic in order to curb incessant suffering from this budget.
Speaking on the issue of an alleged tax hike, Mr. Kotei said “today’s budget reading will not be something new from the earlier budget read in January; it is just some changes to check whether there should be an increase and why or where there should be a decrease”
Story By: Elizabeth Adomah/ Jennifer Akyereko/ pinkfmonlinegh.com
