{"id":463266,"date":"2018-02-10T14:37:24","date_gmt":"2018-02-10T14:37:24","guid":{"rendered":"https:\/\/ghana-mma.com\/2018\/02\/10\/npa-bows-to-copec-pressure-15-petroleum-tax-soon-to-be-made-specific-amount\/"},"modified":"2018-02-10T14:37:24","modified_gmt":"2018-02-10T14:37:24","slug":"npa-bows-to-copec-pressure-15-petroleum-tax-soon-to-be-made-specific-amount","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2018\/02\/10\/npa-bows-to-copec-pressure-15-petroleum-tax-soon-to-be-made-specific-amount\/","title":{"rendered":"NPA bows to COPEC pressure: 15% petroleum tax soon to be made \u2018specific amount\u2019"},"content":{"rendered":"<p><\/p>\n<div id=\"medsection1\">\n<!-- End of html generated by this->header() --><\/p>\n<p class=\"floatLeft\">Business News of Saturday, 10 February 2018<\/p>\n<p class=\"floatRight\"><strong>Source: <\/strong>Myjoyonline.com <\/p>\n<p>2018-02-10<\/p>\n<div class=\"article-left\">\n<p class=\"article-image\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ghanamma.com\/wp-content\/uploads\/2017\/10\/45680270.295.jpg\" alt=\"Hassan Tampuli3\" title=\"Hassan Tampuli3\" width=\"295\" height=\"166\" \/><span class=\"image_caption\"><span>Chief Executive of National Petroleum Authority, Hassan Tampuli<\/span><\/span><\/p>\n<div class=\"noPrint\">\n<div id=\"537626303\" style=\"width:300;height:250;margin:0;padding:0\">\n<p>\t\t  <noscript><iframe loading=\"lazy\" id=\"b2ad7fa7fd\" name=\"b2ad7fa7fd\" src=\"http:\/\/ghanaweb-d.openx.net\/w\/1.0\/afr?auid=537626303&amp;cb=151125817929577\" frameborder=\"0\" scrolling=\"no\" width=\"300\" height=\"250\"><a href=\"\/\/ghanaweb-d.openx.net\/w\/1.0\/rc?cs=b2ad7fa7fd&amp;cb=151125817929577\"><\/p>\n<p>\t\t  <img decoding=\"async\" src=\"https:\/\/ghanamma.com\/wp-content\/uploads\/2018\/02\/1518273444_387_ai\" border=\"0\" alt=\"\" \/><\/a><\/iframe><\/noscript><\/p><\/div>\n<\/p><\/div>\n<\/div>\n<p style=\"clear:right\">Chief Executive of National Petroleum Authority (NPA), Hassan Tampuli, has revealed the much-criticised 15% Special Petroleum Tax (SPT) charged consumers at the pumps will soon be made a specific tax.<\/p>\n<p>The revelation by Mr Tampuli today, Saturday 10, 2018, follows a demonstration last week by the Chamber of Petroleum Consumers (COPEC) and the Industrial and Commercial Workers Union (ICU) against the tax and other petroleum sector levies.<\/p>\n<p>The two organisations and the Minority National Democratic Congress (NDC) have been pushing for the abolition of the SPT and other levies on petrol and diesel on grounds that they have made the cost of the commodities expensive.<\/p>\n<p>The NPA has held its ground about taxes, arguing that the removal of the SPT for instance, would create holes in the government revenue, however, on Newsfile on the Joy News channel (MultiTV), Mr Tampuli said some \u201cmeetings\u201d have been held on the contentious tax.<\/p>\n<p>\u201cOne thing that we have all agreed on is that instead of making the Special Petroleum Tax a percentage of ex-depot price, we will rather make it a specific amount so that it does not compound any future increases in the prices and it will also help government to stabilise revenue when prices go down,\u201d Hassan Tampuli told Newsfile\u2019s Samson Anyenini.<\/p>\n<p>The NDC government introduced the SPT in 2014 when the price of crude on the international market was hitting record low figures.<\/p>\n<p>The government at the time felt that there was a need to introduce the tax to stabilise the ex-pump prices and to cushion revenue generated from the sector.<\/p>\n<p>At the time, it was 17.5% but the current government under President Nana Akufo-Addo reduced it to 15% as part his administration\u2019s effort to review and abolish some selected taxes. The current government explained that the review of taxes was part of efforts to move from the economy from tax-dominated to production.<\/p>\n<p>Speaking further about the impending review of the SPT on Newsfile, Mr Tampuli said, \u201cas at yesterday [Friday], we have been having meetings about when to do it. We didn\u2019t need [the COPEC and ICU] demonstration to even let us know that is what we should do.\u201d<\/p>\n<p>He would not state a specific date when the SPT would be changed from an ad valorem tax to a specific tax, but hinted that it may happen \u201cby the next pricing window\u201d, which is usually the middle of the end every month.<\/p>\n<p>He is confident falling prices of petroleum products on the international market in recent times would also translate into reduced prices in the coming days.<\/p>\n<p><!-- uploaded by: 63 updated by: -1 --><\/p>\n<p><!-- Start of html generated by this->footer() -->\n<\/div>\n<p>\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<a style=\"display:none\" rel=\"follow\" href=\"http:\/\/megatheme.ir\/\" title=\"\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633\">\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Business News of Saturday, 10 February 2018 Source: Myjoyonline.com 2018-02-10 Chief Executive of National Petroleum Authority, Hassan Tampuli Chief Executive of National Petroleum Authority (NPA), Hassan Tampuli, has revealed the much-criticised 15% Special Petroleum Tax (SPT) charged consumers at the pumps will soon be made a specific tax. The revelation by Mr Tampuli today, Saturday [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":426911,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-463266","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2018\/wp-json\/wp\/v2\/posts\/463266","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2018\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2018\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2018\/wp-json\/wp\/v2\/comments?post=463266"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2018\/wp-json\/wp\/v2\/posts\/463266\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2018\/wp-json\/wp\/v2\/media?parent=463266"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2018\/wp-json\/wp\/v2\/categories?post=463266"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2018\/wp-json\/wp\/v2\/tags?post=463266"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}