Government revenue and expenditure measures

Finance Minister Ken Ofori-Atta has outlined some moves geared towards cushioning the citizenry. This is a result of what the Minister describes as efforts to give significant relief to the private sector until expenditure pressures. Regarding the Revenue Measures, he said, “Notwithstanding the efforts made by the Government so far, there still exists a significant VAT gap that needs to be urgently addressed to improve revenue performance. In this respect, the following measures will be put in place: i. the Commissioner-General's certified invoice will be the basis for all deductible expenses for income tax purposes; ii. the second phase of…