Ghana’s Finance Ministry says it will not introduce new taxes in the 2020 budget

September 2, 2019 11:33 AM

The government of Ghana has disclosed that it will not introduce new taxes in next year’s budget.

Ghana’s Deputy Finance Minister, Kwaku Kwarteng

The budget is scheduled to be presented to parliament in November this year.

The Deputy Finance Minister, Kwaku Kwarteng made the revelation while speaking at the first stakeholder’s engagement for the 2020 budget.

The ministry has begun taking stakeholders inputs into the 2020 budget to enable it to address some of the concerns citizens including Civil Society Groups have about the country’s expenditure and revenue generation mechanisms.

Mr Kwarteng noted that “In next year, we have no plans of introducing new taxes. We will continue to review some of the reliefs we gave.”

“We are reviewing the Benchmark value because we are getting feedback from domestic manufacturers that in some specific areas, this policy is counterproductive,” he added.

He concluded that the government is seriously considering those concerns which will be addressed in the 2020 budget.