Akufo-Addo has signed 3 new tax bills into law

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President Nana Addo Dankwa Akufo-Addo has assented into law the three new taxes passed by Parliament in March 2023.

The Information Minister, Kojo Oppong Nkrumah, in an interview in an interview, confirmed this.

Parliament on Friday, March 31, passed the Excise Duty Amendment Bill 2022, the Growth and Sustainability Levy Bill, 2022, the Ghana Revenue Authority Bill 2022 and the Income Tax Amendment Bill 2022.

Confirming the development, the Information Minister indicated that the bills have since been returned to the Clerk of Parliament for the final processes to be completed.

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“From there, there will be the necessary transmittal before the Ghana Revenue Authority can commence implementation.”

The financial bills seek to raise about 4 billion Ghana Cedis annually as part of domestic revenue mobilization.

The bills are also crucial to aid the government’s quest to facilitate the Board Approval for the $3 billion International Monetary Fund (IMF) Programme staff-level agreement.

The Minority in Parliament earlier communicated its opposition to the bills, but the bills were passed despite an MP from the majority suffering a near-fatal accident on his way to the House.

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