{"id":54482,"date":"2023-04-05T06:12:04","date_gmt":"2023-04-05T06:12:04","guid":{"rendered":"https:\/\/www.ghanamma.com\/2023\/04\/05\/lpg-price-hike-imminent-over-new-taxes\/"},"modified":"2023-04-05T06:12:04","modified_gmt":"2023-04-05T06:12:04","slug":"lpg-price-hike-imminent-over-new-taxes","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2023\/04\/05\/lpg-price-hike-imminent-over-new-taxes\/","title":{"rendered":"LPG price hike imminent over new taxes"},"content":{"rendered":"<p><\/p>\n<div>\n<p>The LPG Marketers Association has expressed concern that the passage of the three new revenue bills by Parliament will make life unbearable for Ghanaians.<\/p>\n<p>After a marathon of engagements and voting, the legislature approved the tax bills last Friday, which now await President Akufo-Addo\u2019s assent.<\/p>\n<p>However, many business groups, including the Association of Ghana Industries, the Food and Beverages Association among others, have expressed their displeasure with Parliament\u2019s decision.<\/p>\n<p>Gabriel Kumi, Vice President of the LPG Marketers Association, told<strong> Citi News<\/strong> that the development is worrying.<\/p>\n<p>\u201cWhen there are new taxes, everybody is affected. That is why everybody is crying. We know that government needs money, but it can\u2019t tax its way through like that. So obviously, the taxes are going to affect general prices of goods and services, so LPG will not be an exception just that I can\u2019t make projections for now\u201d, he said.<\/p>\n<p>The price of LPG declined on Monday by 5% as the product is currently selling at 12.40p per litre from the GH\u00a213.20p a week ago.<\/p>\n<p>This is the third consecutive time price of the commodity has seen a marginal drop in 2023.<\/p>\n<p>Although consumers are to expect a further decline in the cost of LPG following a possible downward trend in the price of the commodity in the weeks to come, this may be short-lived following the imposition of the three new taxes.<\/p>\n<p>The bills passed are the Income Tax Amendment Bill, Excise Duty Amendment Bill, and Growth and Sustainability Amendment Bill which collectively, are expected to generate approximately GH\u00a24 billion per year to supplement domestic revenue.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The LPG Marketers Association has expressed concern that the passage of the three new revenue bills by Parliament will make life unbearable for Ghanaians. After a marathon of engagements and voting, the legislature approved the tax bills last Friday, which now await President Akufo-Addo\u2019s assent. However, many business groups, including the Association of Ghana Industries, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":54483,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-54482","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>LPG price hike imminent over new taxes - 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\/2023\/04\/05\/lpg-price-hike-imminent-over-new-taxes\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LPG price hike imminent over new taxes - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"The LPG Marketers Association has expressed concern that the passage of the three new revenue bills by Parliament will make life unbearable for Ghanaians. After a marathon of engagements and voting, the legislature approved the tax bills last Friday, which now await President Akufo-Addo\u2019s assent. 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