{"id":414649,"date":"2017-09-04T23:39:24","date_gmt":"2017-09-04T23:39:24","guid":{"rendered":"https:\/\/ghana-mma.com\/2017\/09\/04\/govt-rules-out-reviewing-current-tax-rates\/"},"modified":"2017-09-04T23:39:24","modified_gmt":"2017-09-04T23:39:24","slug":"govt-rules-out-reviewing-current-tax-rates","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2017\/09\/04\/govt-rules-out-reviewing-current-tax-rates\/","title":{"rendered":"Gov\u2019t rules out reviewing current tax rates"},"content":{"rendered":"

<\/p>\n

\n

Government said it has no intention of reviewing the tax rates or introducing even new ones despite missing out on revenue target.<\/p>\n

The country failed to realize its revenue targets for the first six months of this year.\u00a0<\/p>\n

The amount realized was GH\u20b5<\/span>3.1 billion short of the GH\u20b5<\/span>20.3 billion target.<\/p>\n

<\/p>\n

There are fears that the development could force government to re-introduce the recent taxes\u00a0that were abolished or even introduce new ones.<\/p>\n

However in an interview with JOYBUSINESS during\u00a0the 7th\u00a0National Taxation Conference in Accra, Deputy Minister of Finance, Kweku Kwarteng said government has no intention to do that.<\/p>\n

He noted \u201cwe have given businesses and the private sector the opportunity to expand in order to strengthen the economic base of the country.\u201d<\/p>\n

Government in the 2017 budget review abolished some taxes in order to reduce the burden on businesses and help them to expand.<\/p>\n

\u201cDespite its failure to meet revenue targets for the first half of the year, it has no intention of reviewing these tax policy measures\u201d he concludes.<\/p>\n

Kweku Kwarteng is optimistic that the business community will respond positively to the various tax cuts.<\/p>\n

He also revealed that Government has begun engaging tax experts and stakeholders to ascertain the impact of the tax reforms introduced in the 2017 budget so far.\u00a0<\/p>\n

The tax measures implemented since the beginning of the year are among others expected to empower the private sector in creating jobs and grow the economy.\u00a0<\/p>\n

The three day conference is under the theme, Tax reform: Its effect on Investments, growth and Development.<\/p>\n

\u00a0<\/p>\n<\/div>\n

\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Government said it has no intention of reviewing the tax rates or introducing even new ones despite missing out on revenue target. The country failed to realize its revenue targets for the first six months of this year.\u00a0 The amount realized was GH\u20b53.1 billion short of the GH\u20b520.3 billion target. There are fears that the […]<\/p>\n","protected":false},"author":0,"featured_media":414650,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-414649","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\nGov\u2019t rules out reviewing current tax rates - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2017\/09\/04\/govt-rules-out-reviewing-current-tax-rates\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Gov\u2019t rules out reviewing current tax rates - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Government said it has no intention of reviewing the tax rates or introducing even new ones despite missing out on revenue target. 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