By Franklin ASARE-DONKOH
The embattled Minister of Finance, Mr. Ken Ofori-Atta, has rallied Members of Parliament (MPs) from both sides to support the measures outlined in the 2023 Budget Statement and Economic Policy of the government and pass them on time.
According to the Finance Minister, the outlined measures have become imperative for domestic revenue mobilization due to the closure of the international market to the government.
Addressing Members of Parliament (MPs) at the opening ceremony of the Post Budget workshop at Ho, the Volta Regional Capital, on Saturday, November 26, 2022, Mr. Ken Ofori-Atta explained that the revenue measures outlined by the government are key to pulling Ghana’s economy from the brink of collapse.
“It has become more urgent to mobilise some domestic revenue as our access to the international market has been largely closed and our debt levels increased,” Finance Minister, Ken Ofori-Atta said on Thursday, November 24, 2022, during the 2023 Budget Statement and Fiscal Policy Presentation on the floor of Parliament.
One such measure is the reduction of the Electronic Money Transfer Tax from a rate of 1.5 percent to 1 percent at the zero threshold rate and the removal of the 100 cedis tax-free daily threshold. That means any amount of money transferred is taxable.
