Business News of Saturday, 8 July 2017
The government is insisting it will still go ahead to implement the 3% VAT Rate Scheme irrespective of the Minority’s threat on the move.
Government faces a legal challenge as the NDC minority caucus in parliament has vowed to take the matter to court for redress, if government does not halt the implementation of the 3% VAT Flat Rate Scheme since it is being implemented in an illegal manner.
There is hue and cry among the business community over government’s move of implementing the 3% VAT Flat Rate Scheme that prompted the Finance Committee of Parliament to invite the Finance Minister to clarify the policy yesterday.
But the Deputy Finance Minister, Kwaku Kwarteng in an interview with Accra-based Citi FM maintained that the implementation of the 3% VAT Flat Rate Scheme is lawful.
According to him, the Minority side is being hypocritical to inveigh against the policy when it had already voted to pass it in parliament.
“It is their right, I’ll not stand in their way. The ruling of the court will teach all of us what is right. But we have to remember that Flat Rate is not new and I do not see why this particular Flat Rate is unlawful and Flat Rate is practised in many other countries. But if people will want to go to court, they are at liberty to do so We’ll not stop them but I’m confident that what we have done is lawful. The law was passed by parliament including the minority.”