Mid-Year Budget Review And Matters Arising

Yesterday, after the much anticipated Mid-Year Budget Review, the Finance Minister, Ken Ofori Atta, appeared before Legislators and fulfilled a constitutional requirement.

Before yesterday, Gabby Asare Okyere Darko, tested the resolve of Ghanaians, when he posed a question on his facebook wall, about an intention to increase value Added Tax (VAT) from the current 17.5percent to 21percent.

Knowing his closeness to the president and the finance minister, Ghanaians did not treat the subject lightly, they treated it with the contempt it deserves.

They aired and register their displeasure, forcing the minority in parliament to serve notice to the government through a press conference, never to contemplate such an idea.

The resilient and resistance of the citizenry, have won again, as the government recanted on that decision.

But it was not without another monster dressed in a form of a gift to Ghanaians.

The government buys for themselves 5.7 litres vehicles and come after citizens, who buy vehicles above 3.0 litres.

This is an admission on the part of the minister of finance that, the government spends our money on the highest level of luxury.

Already, importers are crying over how much they pay by way of duties to clear their goods at the ports.

Instead of introducing policies that, will ameliorate their suffering, the government wants to burden them the more.

This paper is of the opinion that, increasing and introducing new taxes is not the only way to raise revenue. The tax net should be broaden to rope in the informal sector.

Government, should also work on wastage, they are too many cases of corruption trolling the administration. Week in, week out, we are fed with cocktail of cases of corruption.

In such instances, Ghanaians are not motivated to want to meet their tax obligations, because they know the money, will not be used for its intended purpose.

Taxes develop nations, but when the taxes collected end up in the pockets of appointees, then people, will look for loopholes to avoid paying.

 

 

 

 

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