2018 mid-year budget review presented by Ken Ofori-Atta

In the mid-year budget, Ken Ofori-Atta said that the government will maintain the VAT rate of 12.5 percent. This is contrary to rumours and media reports that VAT may be increased.

In the mid-year budget, he stated that the government will maintain the VAT rate of 12.5 percent. This is contrary to rumours and media reports that VAT may be increased.

He called on the Minority in Parliament to stop taking direction on economic policies on social media.

“I wish to assure the House that VAT will not be increased. I would like to advise our friends in the opposition that they should stop taking policy direction on the economy from social media” the Finance Minister advised.”

The government also reviewed the Personal Income Tax which stands at 25 percent for those who earn more than GHC 10,000.

He added that "the levy will be paid on first registration and subsequently at annual renewal. Commercial vehicles will be exempted."

He added that they will ensure tax compliance in order to meet their revenue targets and also develop the nation.

Click to  here read the full mid-year budget review presented to Parliament.

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