The government will review the income tax threshold to ensure that minimum wage earners are not made to pay tax from next year.
He said: “Government will review the current income tax thresholds by pegging the tax-free threshold to the current minimum wage”, which, in effect, is an abolishment of “tax on the incomes of minimum wage earners”.
“To remove the incentives for people to engage in illegal lottery, the 7.5% income tax on the commission of lotto marketing companies will be abolished and the 5% withholding tax on lotto prizes removed.”
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He indicated that tax amnesty has been promised to individuals who register and file returns within a certain period.
“In 2018, parliamentary approval will be sought to exempt taxpayers who register and file returns within a targeted period from paying penalties and interests for late or non-submission of returns and late payments. This includes exemption from prosecution,” he said.
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Mr Ofori-Atta added that the Ghana Revenue Authority (GRA) will, after the amnesty period, “wage an intense campaign to prosecute continuing defaulters and offenders”.