AFAG suspends protest over 17.5% BANK VAT

The Alliance for Accountable Governance (AFAG) has suspended its intended protest over the 17.5 percent tax on banking services.

The pressure group gave government one-week ultimatum to withdraw the tax or face their wrath. AFAG argued that it is “senseless” for the government to introduce such an “aggressive tax regime” when Ghanaians continue to languish in abject poverty.

But following government decision to defer the implementation of the 17.5 bank tax to June, the group has rescinded its decision.

 
Below is the press statement from AFAG:
17.5% BANK VAT: ACTION WITHHELD
Following the notification to customers by the commercial banks to put on hold the implementation of the 17.5% bank service VAT, the Alliance for Accountable Governance (AFAG) has suspended further actions resulting from the ultimatum issued to government 2 weeks ago.

The leadership of AFAG has noted that, following our press statement calling on government to suspend immediately or amend the VAT act 2013 (Act 870) which introduced this irrational tax regime on bank customers, the commercial banks, issued notices to its customers suspending the implementation of the 17.5% bank service VAT. While this directive remains, AFAG will adopt a waitful watching attitude to see the next step by government and the banks.

 
In this regard, we have suspended all further actions that would have been precipitated by the irrational and untimely decision to implement such an unjustifiable tax, under the current precarious economic circumstances of Ghanaians.

God save Ghana
 
AFAG Leadership Story by Ghana/Adomonline.com/Adwoa Gyasiwaa