Member of Parliament for North Tongu, Samuel Okudzeto Ablakwa, is surprised over the government’s decision to increase Value Added Tax (VAT).
The Finance Minister has proposed in the 2023 budget presentation an increment in the Value Added Tax (VAT) by 2.5 per cent.
The standard VAT rate is 12.5%, except for supplies of a wholesaler or retailer of goods, which are taxed at a total flat rate of 3%.
But reacting to the announcement in a Facebook post, the MP said: “Who could ever have imagined or predicted that Nana Addo Dankwa Akufo-Addo who led the fatal 1995 Kumepreko demonstration against the introduction of VAT under President Rawlings which tragically claimed the lives of Ahunu Ahonga & 5 others would today be increasing VAT by 2.5%”.
Meanwhile, government has also announced a reduction of the Electronic Transfer Levy (E-levy) rate from 1.5% to 1%.
Source: Peacefmonline.com
Disclaimer: Opinions expressed here are those of the writers and do not reflect those of Peacefmonline.com. Peacefmonline.com accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority. |
The NDC has made politics look like an easier business, which is why you see the calibre of Ablakwa as a former minister of state. He could hardly make any substantive contribution when it came to a very important national discourse that bordered on policies. His portrayal of the government has always been bleak. That is the opposition politics that Mr. Ablakwa best understands. Of course, he does not need to do much because his ministerial position is secured if his party, the NDC, wins the elections. It was about the president's travels yesterday and today's Kume Preko demonstration. The main substantive matter is VAT, which borders on increasing the levy by 2.5 percent in the budget, though the standard VAT of 12.5 % is the lowest in the subregion, and Mr. Ablakwa fails to make any meaningful contribution except beating about the ***barred word*** with "Kumeprek."
Sometimes I wonder why people think His Excellency the president and for that matter NPP has managed the economy well? Just compare Ghana’s economy to our peers in Africa and check if we are doing well. Since Nana Addo, Bawumia and the NPP are more interested in stats, history and comparison, they should tell us if we are performing better than Zambia, Kenya, Uganda, Rwanda, Cote d’Voire in terms of borrowing rates, foreign exchange and inflation. These economies are relatively stable and the Ghana Cedi is depreciating on daily basis against these currencies. In July, Uganda 1.0m Schillings exchanged for GHS2,400. Now the same 1.0m Schillings is being exchanged for GHS4,350. Inflation is 10.7%, borrowing rate is 12%. Tell me, are they not affected by Covid-19 and the Russia Ukraine war. Uganda is a landlocked country and imports are very expensive. I’m surprised NPP and its sympathizers are always defending? There’s something fundamentally wrong with our economy and the way it has been mismanaged. Few years back, the government and NPP were quoting all manner of statistics that their performance in government is unprecedented since independence. Now it is clear that the opposite is very true. What a government! Total failure. Ghanaians can’t wait to show you the exit for wasting our time and resources.
This is the “spiritual marriage” issue with NPP sympathisers. All Ablakwa said was “who could have imagined Akufo-Addo who led Kume Preko demonstration in 1995 would increase VAT.” Did Akufo-Addo lead the demonstration, YES. Did people die, YES. Now was the reason for the demonstration valid, Ablakwa didn't comment on that. Things are really tough and only a hear.t.less wizard grandmaster and his cohorts will increase VAT by 2.5% and reduce E-Levy to 1% and craftily take off the Ghc100 non-applicable threshold. Ablakwa constituents maybe fo.o.ls to vote for him. Will you be wise to vote NPP out?
The immaturity of ablakwa is obvious in all his utterances. All such are refered to as honorable. Collect your fat salaries & ex gratia every four years. The ***barred word*** in your constituency will continue to vote for you.
Ablakwa, may be you were too young to understand what happened back in the day. The Kumepreko demo was not to say we didn't want VAT, we said the percentage to start with was too high.