Tag Archives: 2018 Budget

2018 Budget Highlights: Tax in Focus

2018 Budget

2018 Budget Highlights Commentary by PWC report state it in this way In a bid to consolidate the Ghanaian economy’s path to macroeconomic stability and to boost the productive sectors of the economy, the 2018 Budget Statement (“the Budget”) of Government of Ghana has the theme “from stabilisation to growth: putting Ghana back to work again”. This is anchored on ...

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What the 2018 Budget Say about Taxes

Taxes

Government promised in the 2017 Budget to remove some taxes to free additional capital for businesses and provide relief to consumers. In line with this, the following taxes were abolished: one percent Special Import Levy imposed on imported raw materials and machinery; 17.5 percent VAT/NHIL on Financial Services; 17.5 percent VAT/NHIL on domestic airline tickets; Excise duty on Petroleum; Import ...

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#2018GHBudget: The end of graduate unemployment – Ofori-Atta

graduate unemployment

In an effort to curb graduate unemployment, the government will soon introduce the Nation builders corps which will address issues of graduate unemployment. Presenting the 2018 Budget Statement and Economic Policy on Wednesday, Ken  Ofori-Atta said: “We have returned to robust growth with a real GDP growth of 7.8%…We have reduced inflation, and October inflation of 11.6% from 15.4% end ...

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Minority on 2018 Budget presentation

2018 Budget

The Minority National Democratic Congress (NDC) Members of Parliament (MPs) have cautioned that they will resist any attempt by the government to impose tax indiscriminately on anything including house-keeping money, known in the local parlance as ‘chop money’ if it is introduced in the 2018 budget. The government intends to introduce taxes on mobile money transactions by all the network ...

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Economist Caution Finance Minister against fuel revenue

Fuel Revenue

As the Finance Minister Ken Ofori Atta prepares to present the 2018 budget statement before parliament tomorrow, some financial observers have cautioned against ambitious oil revenue projection. According to them, previous experiences must serve as a guide to the government as Ghana has no control over the price of oil. In the 2017 mid-year budget review presented by the Finance ...

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2018 budget to improve domestic revenue collection

new tax initiatives

Finance Minister, Ken Ofori-Atta has stated that the 2018 budget which will be presented in parliament later this month will use innovative ways to improve domestic revenue collection for economic development. This follows calls from the Institute of Fiscal Studies, urging government to use the 2018 budget to improve tax collection by broadening the tax base. Speaking at the 38th ...

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2018 budget to unveil Agric Marshal Plan

2018 Budget

Duties on agro-processing equipment and machinery to be removed Massive road construction and irrigation in food basket areas Pension scheme for cocoa farmers etc. Vice-President Dr Mahamudu Bawumia has said government will use the 2018 budget, scheduled to be presented to Parliament in a month’s time, to support an ambitious agriculture transformation agenda. The Vice President said the Marshall Plan ...

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2018 budget to dwell on improving agric sector

2018 Budget

Government has stated the commencement of a new plan in the 2018 budget to turnaround the fortunes of Ghana’s agricultural sector. To be known as the ‘marshal plan for agriculture,’ the policy seeks to tackle all systemic challenges that have confronted Ghana’s Agric sector hence inhibiting its contribution to the economy. The Vice President, Dr Mahamudu Bawumia disclosed this when ...

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