A Deputy Finance Minister, John Kumah has hinted that the Government will not introduce nuisance taxes in the 2022 Budget statement.
He however indicated that government may tighten its revenue mobilization measures by introducing some taxes.
Therefore, the Deputy Minister called on industry players to be measured on their calls for the government to reduce or completely abolish certain taxes noting that the government ought to tighten its fiscal deficit.
In an interview on Face to Face on Citi TV, Mr. Kumah further indicated that the government will introduce its cash flows to provide developmental projects.
“If people are expecting the government to spend on their needs, they should be expecting the government to raise revenue for that expenditure, so there will be some progressive measures to ensure that, that revenue is raised”, he said.
Moreover, he admitted that the COVID-19 pandemic has sifted the economic paradigms of many nations in the world which Ghana is no exception thus any good budget must consider interventions to revive the economy.
“COVID-19 has brought changes to the economic paradigm of the world, and any strategic budget must factor into the past COIVD-19 interventions that we need to do to revive the economy and there will be a lot of good news,” he indicated.
On nuisance taxes, Mr. Kumah noted that it is a lazy approach to raise revenue thus a number of them had been scrapped.
Also, he said that the focus of the government is to introduce taxes aimed at increasing production and productivity.