President Akufo-Addo , the Vice President Dr. Bawumia and the New Patriotic Party Government have introduced over 50 taxes since assuming power on January 7, 2017.
The NPP government has collected over GHC293 billion in taxes and levies in 2022 alone, surpassing any other administration since 1992. This indicates that Ghanaians have been subjected to higher taxation under the current NPP government than any other previous administration.
This has resulted in significant suffering among the people and has caused anger amongst them. As a result, many Ghanaians are expressing their frustration and are looking forward to the upcoming 2024 elections as an opportunity to vote out the NPP government.
Let us look at some of the taxes this current government has introduced since taking over:
- 3% VAT flat rate
- 5% increase in VAT
- Makes GETFUND & NHIL levies, taxes
-20% tax on akpeteshie
- 25% increase in corporate tax
- 2% Special Import levy
- 1% COVID levy + 3% VAT = 4%
- 1% COVID levy on 2.5% NHIL levy
- 5% Fiscal Stabilisation Levy
- 5% financial sector cleanup recovery levy
- 1% E-Levy (formerly 1.5%)
- 20p levy on litre of petrol/diesel
- 10p borla levy on litre of petrol/diesel
- 18p levy on LPG
- 2.5% increase in VAT
- Luxury vehicle tax (later withdrawn)
- 50% increase in Call Tax (later withdrawn)
- 30% increase Energy Sector Levy (ESLA)
- 11 % increase in Special Petroleum Tax
- 200% increase in BOST margin
- 40% increase in Price Stabilization & Recovery levy
- 25% increase in Primary Distribution margin
- 36% increase in Unified Petroleum Price Fund
- Road Fund increase
- 10% withholding tax on betting, lottery etc
- 20% increase in tax on betting companies
- 35% increase on Income Tax
- 3% & 10% withholding tax on assets and liabilities
- 25% increase on tax on gifts and gains
- Profit before tax levy on companies
- 5% tax on companies declaring losses
- Tax on motor vehicle benefits
- 1.75% tax on bank transfers
- 1.75% tax on remittances (borga tax)
- 15% increase in govt fees and charges
- 35% increase in corporate tax on mining companies
- 22% corporate tax on hotels
- Excise duty for owning a car, motorbike etc
- 1% stamp tax
- 35% payroll tax (PAYE)
- Customs & Excise duty on sachet water, bottled water, malt drink, beers, wines, spirits, cigars, plastic products, textiles.
And many more…..
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