The Minority in Parliament has recently made headlines with their scathing allegations against the government, claiming that a substantial billion-dollar grant in tax waivers is being proposed for individuals connected to the trade industry. This bombshell revelation has emerged against the backdrop of the ongoing consideration by the Finance Committee of a GH¢5 billion tax waiver request, purportedly framed as a set of incentives in support of the One District One Factory (1D1F) policy.
In a press conference held in Accra on Wednesday, December 13, 2023, Mr. Yussif Sulemana, the Ranking Member of the Trade and Industry Committee, didn't mince words as he issued a stern warning. He stressed that the Minority would vehemently oppose any attempts to impose additional regressive taxes on Ghanaians unless the government retracts what they perceive as excessive tax waivers.
With a focus on the fiscal implications, Mr. Sulemana emphasized the apparent contradiction, highlighting that "The 2024 budget alone is imposing taxes to the tune of GHS11 billion. The unfortunate thing is that while we are taxing the poor Ghanaians to raise this revenue, we are also at the same time granting tax waivers to friends and family members."
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The details shared were specific, with Mr. Sulemana noting, "For instance, we have about GHS5.5 billion tax exemptions waiting at the finance committee. We have also been reliably informed, and we are speaking because we have seen documents that suggest that they’re bringing another GHC7 billion tax waiver request to parliament. Now, if you put the two together, we are talking about GHC12.5 billion tax exemptions."
Expressing deep discontent with what they perceived as inconsistency, Mr. Sulemana questioned the rationale behind simultaneously imposing taxes and providing substantial exemptions. He further stated, "Here you are wanting to grant GHC12.5 billion to your friends and family members in the name of tax exemptions under 1D1F. At the same time, you are imposing taxes to the tune of GHC11 billion. Can you juxtapose the two?"
Mr. Sulemana boldly asserted, "We think that it doesn’t make sense to us, and so we are saying that the tax bill that they are going to introduce in this particular budget will face some stiff opposition. We will not sit down and allow them to impose taxes on our people."
The allegations put forward by the Minority have ignited public interest, bringing to the forefront a critical discussion on fiscal management, equity, and the perceived allocation of resources within the country.
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