- March 26, 2021
- Posted by: PFM Tax Africa
- Category: Taxation
The Minister designate for Finance, Mr Ken Ofori-Atta, has justified the need to introduce new taxes at a time Ghanaians are coping with the negative impact of the coronavirus disease.
Responding to a question during his vetting on Thursday by the Appointments Committee of Parliament, Mr Ofori-Atta said it was necessary for Ghanaians to learn to share the burden.
“I think the question of taxes can be an independent question. We have proposed a number of taxes that would affect petroleum which will lead to revenue for the Energy sector.
“We also have a huge sanitation problem and I think that is a health hazard for the days. We are moving forward and there is a battle cry for us to join hands towards growth and transformation.
“We need to create a society that we share the opportunities as we grow and also be able to share the burden,” he said referring to the “ WƆN YA WƆ HIƐƐ ” budget which the government has designed for consolidation, completion and continuation.
In his very first comment on the 2021 budget, he said the budget would propel Ghana into recovery with the new taxes and other programmes outlined to generate funds.
The government is seeking parliamentary approval for GHȻ 111.3 billion as total expenditures while expecting total revenues and grants of GHȻ 72.1 billion for the year.
The expenditure for 2021 is also 13 per cent higher than the GHȻ 98.1 billion approved by parliament for 2020.
The budget was dominated by taxes and levies meant to shore up revenue for 2021 considering the adverse impact of the pandemic.