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Government has no plans to increase the Value Added Tax (VAT)

Finance minister, Ken Ofori-Atta says government has no plans to increase the Value Added Tax (VAT) as widely speculated.

Nephew to the President and also a blood relation of the Finance minister, Gabby Asare Otchere-Darko, sparked speculations on social media which got a section of the media of the media as well as the opposition NDC feeding into the speculations that the government would possibly increase VAT from 17.5% to 21.5%.

The Minority in Parliament in their projections said government will increase VAT and introduce newer taxes, warning that they would resist any such taxes, but delivering the mid-year budget in parliament, the finance minister allayed fears of Ghanaians saying emphatically that there will be no increase in VAT.

Mr. Ofori-Atta took a swipe at the minority and urged them to “stop taking directions on economic policies from social media”.

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