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3 additional taxes shouldn’t be enacted by Akufo-Addo, according to Kwame Pianim

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President Akufo-Addo has been urged by economist Kwame Pianim not to sign the three revenue measures bill into law.

In an interview with JoyNews’ Newsfile on Saturday, he said that this was the result of Parliament’s poorly-thought-out measure.

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He urged President Akufo-Addo to refuse to sign these legislation.

He said Akufo-Addo should return the bill to Parliament for further consideration.

While the bill was being presented to the House, he charged that the legislators had neglected to raise pertinent issues.

But pass all borrowing laws that are currently before the House and are to blame for the nation’s economic collapse.

https://youtube.com/watch?v=IdlWQ4P2AF8%3Ffeature%3Doembed
“Of course, they need to have an economic model that shows how the economy would look after the domestic debt exchange when the Ministry of Finance has completed its task. What will it be?

“Will there be a slump and weak economic growth during the ensuing three to five years, and if so, what will happen to the government’s revenue? It appears that no one is paying attention to that before it is brought before Parliament.

“We anticipate that lawmakers will engage with their constituents, reflect, and pose questions. Our last hope, the NPP stalwart stated, is that the President will congratulate the legislature for passing the legislation but decline to sign it because it is flawed.

He therefore criticised the 8th Parliament for passing three new taxes: the Growth and Sustainability Amendment Bill, the Excise Duty Amendment Bill, and the Income Tax Amendment Bill.

The present legislature, according to Mr. Pianim, “is likely to go down in history as one of the worst legislatures we’ve [Ghana] ever had.”

In an effort to raise some 4 billion in internal revenue, three revenue measures were approved by Parliament on April 1.

The administration claims that the steps will allow it to finish the procedures necessary to get a $3 billion International Monetary Fund (IMF) programme.

The passage of these new regulations, however, has alarmed business associations, merchants’ associations, and some Ghanaians, who claim they will cause the collapse and relocation of firms in the nation.

While participating in the discussion on the same analytical programme, the president of the Ghana Union of Traders’ Association (GUTA) expressed his displeasure with Parliament for passing the government’s new tax measures without engaging stakeholders.

According to Dr. Joseph Obeng, despite several requests and appeals to the Speaker of Parliament, Alban Bagbin, and to the Parliamentary body itself to review the decision to adopt the tax measures, none of them were listened.

As there are other alternatives to accepting the taxes, according to Dr. Obeng, Parliament’s action is unnecessary.

The precarious situation we are in is a result of our having granted the government the power to act on our behalf, but there are still plenty of options we have at our disposal. Parliament’s measures weren’t necessary.

“The Ghanaian people were not heard in parliament. All of our public releases, petitions, and pleas were ignored after we petitioned through the Speaker and the Parliament. They never paid attention to us, he claimed.

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