15
Apr
The Government is seeking to plug the revenue gap created as a result of the abandoned VAT on electricity with a tax on the foreign incomes of resident Ghanaians. At the beginning of the year, the government introduced a value-added tax on electricity, however, it was forced to abandon the initiative following a public backlash. This created a revenue gap of about GHc 1.8 billion. The government had planned to implement the VAT on electricity as part of revenue measures in the IMF deal but the initiative was abandoned after public resistance, leading to a revenue shortfall. The government is…