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Akufo-Addo has signed 3 new tax bills into law

April 17, 2023 12:08 PM

Ghana’s President Nana Addo Dankwa Akufo-Addo has assented into law the three new tax bills recently passed by Parliament in March 2023.

Akufo-Addo has signed 3 new tax bills into law

Information Minister, Kojo Oppong Nkrumah confirmed this in an interview with JoyNews.

According to him, the document has since been given to the Clerk of Parliament for the rest of the administrative processes to kick start.

“From there, there will be the necessary transmittals before the Ghana Revenue Authority can commence implementation.”

The three new taxes are the Excise Duty Amendment Bill 2022, the Growth and Sustainability Levy Bill, 2022, and the Income Tax Amendment Bill 2022.

The Majority in Parliament said the measure formed part of moves to raise GH¢4 billion annually in revenue.

Government also says the bills are essential to its quest to secure the US$3 million bailout it is seeking from the International Monetary Fund (IMF).

The Minority in Parliament earlier communicated its opposition to the bills, but the bills were passed despite an MP from the majority suffering a near-fatal accident on his way to the House.

Evans Effah Evans Effah is a seasoned journalist with a passion for news journalism, communications, and public relations. With over a decade of experience in the field, he has established himself as a prominent figure in the media industry.

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