Government must balance energy sector taxes or risk collapsing economy – Energy Consultant
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Bounce Consultant Dr. Sulemana Yussif, has articulated that the accomplishment of the makeshift assessments on the bounce section dangers choking the excrescence of the frugality.
The assessments were acquainted in the 2021 account account and will clasp aftereffect on May 1, 2021 .
Dr. Yussif argues that the makeshift assessments command the aptness to break charge in the section which will command an adversarial bump on the frugality particularly as it recovers from the bump of the COVID – 19 maladies.
In an interview with Citi Business News, Dr. Yussif stewed that although the impositions might exist nonelective, the regime ought to invoke to rack up an equipoise that will safeguard the site and the providence.
“ What they can go headlong is once they jump remarking the have approached in from the impositions, they shouldn’t shoot it to sites where the responsibility won’t exist remarked. They should exactly funnel it to constructive flutters where it can make play opportunities. However, openings or portfolios, If they can exist gone that route the fears of impositions smothering lump will exist canceled by conducting it to constructive flutters. ”
“ industriousness require to promote, and before an industriousness can promote it’ll require people to devour productions and if impositions are therefore monumentally, people won’t devour productions. That’s why the USA in all this Covid – 19, supreme of their motivations, about 1.9 trillion dollars, paced plumb to consumers, ” he appended.
succeeding the regime’s proffer and the ensuing favor of these substitute impositions, the Ghana Revenue Authority hatch 1st May 2021 to begin performance.
The impositions are the COVID – 19 Health Recovery Levy Act, 2021 (Act 1068), Financial Sector Recovery Levy Act, 2021 (Act 1067), and the Energy Sector Levy (Amendment) Act, 2021 (Act 1064)
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Under one of the imposts, that is, the Energy Sector Recovery Levy of GH ¢ 20 pesewas per liter of petrol or diesel and 18 pesewas per kg on Liquefied Petroleum Gas (LPG) while a Sanitation and Pollution Levy of GH ¢ 10 pesewas per liter of petrol and diesel separately were acquainted.
