2018 BUDGET REVIEW: VAT will not be increased

Finance Minister Ken Ofori-Atta has given a categorically statement in Parliament today that there will not be any increase in Value Added Tax (VAT) as widely speculated ahead of the 2018 mid year budget reading.

It had earlier been reported by some media houses and online portals that government intended to increase VAT from 17.5% to 21.5%.

The speculation is said to have been sparked by Gabby Asare Otchere-Darko on social media.

The Minority in Parliament took issue with the government over the speculation and vowed to oppose any such tax increase.

Mr Ofori-Atta however told parliament on Thursday, 19 July 2018 that there will be no increase in VAT and urged the opposition to “stop taking directions on economic policies from social media”.

61612018 mid-year review

Kojo Ennimil Arthur |Spicefmonline.com |Ghana