New Taxes: We Need To Burden-Share – Ofori-Atta
Finance Minister-designate Ken Ofori Atta has justified the introduction of the new taxes in the budget statement for the 2021 fiscal year.
Answering questions relating to the introduction of the new taxes during his vetting by the Appointments Committee of Parliament on Thursday March 25, Mr Ofori-Atta said “Not everything is gone up. We need to burden share, we need to move forward.”
The government is proposing in the 2021 budget statement the introduction of a Covid-19 Health Levy of a one percentage point increase in the National Health Insurance Levy and a one percentage point increase in the VAT Flat Rate to support expenditures related to Covid-19.
“To provide the requisite resources to address these challenges and fund these activities, government is proposing the introduction of a Covid-19 Health Levy of a one percentage point increase in the National Health Insurance Levy and a one percentage point increase in the VAT Flat Rate to support expenditures related to Covid-19,” the budget said.
The government received flak for these new taxes at a time scores of Ghanaians cost of living has gone up following the impact of the COVDI-19.