The Finance Minister, Ken Ofori-Atta has announced a ban on employment for civil servants effective January 2023. Presenting the 2023 Budget and Economic Policy to Parliament on Thursday, Mr. Ofori Atta also announced that the purchase of new vehicles shall be restricted to locally assembled vehicles while the allocation of fuel coupons to political appointees … Read more
2023 Budget : E-Levy Reduced To 1% from 1.5%, Affects All Transaction. The Finance Minister, Ken Ofori-Atta, has announced a proposal in the 2023 budget statement to reduce the e-levy rate from 1.5 percent to 1 percent. This 1% E-Levy rate will affect all transactions and the GHS 100 threshold. He also announced a proposal … Read more
VAT Rate To Increase by 2.5% in 2023. As part of attempts to get the economy back on track, the government has raised the value-added tax (VAT) from 12.5 percent to 15 percent. The 2.5 percent increment is to directly support the roads sector and the government’s digitalization agenda. The Finance Minister, Ken Ofori-Atta, announced … Read more
2023 Budget Statement: Government aims to cut imports by 50% It is anticipated that this action, which is one of the government’s seven-point plan to restore macroeconomic stability, will help reduce imports and the pressure they put on the local currency. Ken Ofori Atta, the minister of finance, presented the budget statement for 2023 and … Read more