{"id":1258167,"date":"2022-11-25T14:51:44","date_gmt":"2022-11-25T14:51:44","guid":{"rendered":"https:\/\/www.ghanamma.com\/2022\/11\/25\/traders-unhappy-about-vat-rate-increment\/"},"modified":"2022-11-25T14:51:44","modified_gmt":"2022-11-25T14:51:44","slug":"traders-unhappy-about-vat-rate-increment","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2022\/11\/25\/traders-unhappy-about-vat-rate-increment\/","title":{"rendered":"Traders unhappy about VAT rate increment"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"td-post-featured-image\"><img loading=\"lazy\" decoding=\"async\" width=\"696\" height=\"391\" class=\"entry-thumb\" src=\"http:\/\/www.ghanamma.com\/wp-content\/uploads\/2022\/11\/image-270-696x391.png\"   alt=\"\" title=\"Kumasi traders\"\/><\/div>\n<p>The Association of Electrical Dealers at Opera Square in the central business district of Accra has been reacting to the content of the 2023 budget.<\/p>\n<p>The leadership is concerned about the increase in the Value Added Tax (VAT) insisting it will make life unbearable for already ailing businesses.<\/p>\n<p>Speaking to JoyNews, the Association\u2019s Chairman, Henry Arhin, bemoaned the situation and asked government to reconsider its decision.<\/p>\n<p><!-- \/22191989129,1002554\/MGL\/mgl_ado_atunwa_300x250 --><\/p>\n<p>\u201cBecause of the dollar exchange, businesses are collapsing so if the VAT is also going up then definitely it won\u2019t help us.<\/p>\n<p>\u201cIf we want people to pay VAT then they should moderate it for us,\u201d he told Emefa Apawu.<\/p>\n<p>The resistance is not peculiar to the Association of Electrical Dealers alone.<\/p>\n<p>Spare parts dealers at Abossey Okai are also worried the VAT increment will adversely affect their market.<\/p>\n<p>They claim the upward adjustment will further weaken their trade.<\/p>\n<p>In the Ashanti Regional capital Kumasi, while some residents remain confident about the turnaround of the country\u2019s economic fortunes, others were dissatisfied with the increase of the VAT.<\/p>\n<p>\u201cWasn\u2019t he the same person that organised Kumepreko some years ago because of the VAT, so why has he increased it? He should even scrape the tax policy,\u201d one resident told Luv FM\u2019s Emmanuel Bright Quaicoe.<\/p>\n<p>Yesterday, Finance Minister, Ken Ofori-Atta announced government\u2019s decision to increase VAT by 2.5 per cent.<\/p>\n<p>Revenue raised from this increment, he said, will be used for road projects and the digitisation agenda.<\/p>\n<p>            <!--  [embed]https:\/\/www.youtube.com\/watch?v=videoseries[\/embed]<!--\" frameborder=\"0\" allow=\"accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe>--><\/p>\n<div class=\"youtube-embed\" data-video_id=\"dCmpryoIzyc\"><iframe loading=\"lazy\" title=\"Cargo drivers launch national towing services to curb trend ahead of Christmas (24-11-22)\" width=\"696\" height=\"392\" src=\"https:\/\/www.youtube.com\/embed\/dCmpryoIzyc?feature=oembed&#038;enablejsapi=1\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Association of Electrical Dealers at Opera Square in the central business district of Accra has been reacting to the content of the 2023 budget. The leadership is concerned about the increase in the Value Added Tax (VAT) insisting it will make life unbearable for already ailing businesses. Speaking to JoyNews, the Association\u2019s Chairman, Henry [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1204875,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[226,179,4181,62,4536],"class_list":["post-1258167","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-increment","tag-rate","tag-traders","tag-unhappy","tag-vat"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1258167","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1258167"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1258167\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1258167"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1258167"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1258167"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}