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“The burden is too heavy to carry to add more taxes.
I’m sure the people will not accept it,” he observed.
There are also hints of increased social security (SSNIT) contributions to the NHIS, as well as a Financial Service Tax.
The government is also likely to increase VAT from 17.5 to 21 per cent in the mid-year budget set to be presented to Parliament next Thursday.
Financial Management Administration Act The Financial Management Administration Act requires the Finance Minister to, not later than July 31, prepare and submit to Parliament a Mid-Year Fiscal Policy review.
This often allows the Finance Minister the opportunity to review the targets set in the budget.
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Opposition from the NDC However, ahead of the presentation, the opposition National Democratic Congress (NDC) has descended heavily on the government for its purported plan to increase taxes in the country.
The Greater Accra Chairman of the NDC, Joseph Ade Coker, is reported to have said Ghanaians would resist any attempt to introduce new taxes.