The Member of Parliament for Tano North, Dr Gideon Boako says tax reforms implemented during the Akufo-Addo administration were remarkable, and that they constitute the most by any Ghanaian administration.
Recalling the pivotal moment on March 3, 2017, when former President Nana Akufo-Addo’s first budget abolished 17 taxes, Dr Boako said the decision significantly eased the financial pressures on citizens and businesses alike.
Speaking on Asempa FM’s Ekosiisen show, Dr Boako noted that the tax cuts during the Akufo-Addo administration are unparalleled in Ghana’s history, with the removal of upwards of 25 taxes over an eight-year period.
This, he stressed, was a clear indication of the government’s commitment to fostering an enabling environment for economic growth and development.
“The previous government abolished the most taxes in this country. If you could remember, on March 3, 2017, former President Akufo-Addo’s first budget abolished 17 different taxes in Ghana,” Dr. Boako remarked.
According to Dr Boako, while the government’s tax policies under Akufo-Addo were instrumental in promoting business expansion and stimulating economic activities, there has been a critical balance that needed to be maintained.
Addressing the controversial Electronic Levy (E-Levy), which faced backlash from the public, Dr Boako reaffirmed what he said was his and the former Vice President, Dr Mahamudu Bawumia’s stance from 2020.
He reiterated that the E-Levy was not too popular and that other avenues could have been explored to meet the government’s revenue needs.
“The E-levy was unpopular, and my stance on its implementation remains the same, just as that of Dr Bawumia right from the year 2020. For me, it was needless,” he stated, also referencing other unpopular tax initiatives like the betting tax.
Despite the challenges of navigating complex fiscal policies, Dr Boako emphasised that the Akufo-Addo administration’s tax cuts demonstrated a forward-thinking approach, laying the foundation for Ghana’s long-term economic stability.
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