A Deputy Finance Minister, Dr Alex Ampaabeng has assured the public that the government will refrain from imposing new taxes in the upcoming mid-year budget.
This announcement follows widespread concerns from stakeholders about the heavy tax burden on businesses and households, urging for the reduction or elimination of some taxes to alleviate financial pressures.
Speaking in an interview with Channel One TV on Wednesday, June 12, Dr Ampaabeng confirmed the government’s decision not to introduce a supplementary budget, as communicated by the Finance Minister, Dr Mohammed Amin Adam.
While emphasising the government’s commitment to avoiding new taxes, Dr Ampaabeng highlighted their intention to explore alternative avenues to enhance revenue.
He pointed out that there are significant opportunities within the current tax framework that can be effectively leveraged for revenue generation.
“There are lot of conversations ongoing, but one thing I can say on behalf of my Minister [Dr Mohammed Amin Adam] is that there won’t be new taxes in this mid-year budget. But, going forward, we are looking for all avenues to make sure that we enhance revenue.
“I believe there are a lot of opportunities within the tax system for us to rake in revenue. It’s about improving efficiency. It’s about dealing with leakages in the tax system, it’s about engaging the taxpayers to accept responsibilities. There are leakages, but I don’t want to pre-empt anything,” he said.
