The Finance Minister Dr Cassiel Ato Forson has submitted the 2025 Price range to Cupboard for the required scrutiny forward of its presentation to Parliament on March 11.
The Cupboard assembly, which was chaired by President John Mahama additionally ensured that the price range and a few key coverage proposals get the purchase in of your entire authorities.
Focus
The presentation by Dr Ato Forson was additionally to make sure that regardless of the Finance Minister presents to Parliament is in keeping with guarantees made by the Nationwide Democratic Congress to Ghanaians through the election marketing campaign interval final 12 months.
The presentation can even allow Cupboard to evaluate the political price of a few of the measures the federal government is planning to introduce within the price range.
Sources have informed JOY BUSINESS that there could possibly be situations the place the Cupboard may step down some proposed coverage measures which were put throughout.
Tax proposals and expenditure cuts
There are robust indications that Dr Forson will insist on proposed expenditure cuts primarily based on the present challenges dealing with the financial system. Nevertheless, it isn’t clear for now the areas that shall be affected by the cuts.
Dr Forson additionally offered to Cupboard his plan to rationalize the present tax construction, together with the Worth Added Tax. The federal government has given the reassurance that it’ll press forward with plans to take away some taxes, together with Betting Tax, e-levy and COVID-19 levy.
The Financial Adviser to the President, Seth Terkper has informed JOYBUSINESS authorities is hopeful that strict tax compliance ought to assist shut the anticipated income hole because of the choice to take away some taxes.
Dr Forson is anticipated to current the ultimate doc to Parliament on Tuesday, March 11, 2025.
DISCLAIMER: The Views, Feedback, Opinions, Contributions and Statements made by Readers and Contributors on this platform don’t essentially signify the views or coverage of Multimedia Group Restricted.
Source link
