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The Chamber of Petroleum Consumers (COPEC) has notified that it will oppose any decision by the Government of Ghana to inflate fuel taxes in the mid-2019 budget, which should be read later. in Parliament today.
Speculation is rife, among the key elements of the mid-year budget review will be an increase in taxes on petroleum and mobile products.
The pro-government newspaper The Daily Statesman has hinted that "the government intends to raise funds by reducing administrative costs, optimizing resource use and increasing taxes on business." Use of oil and mobile phones.
Given growing speculation about a possible tax increase, particularly on petroleum products, COPEC Executive Secretary Duncan Amoah said that the cost of living in general has increased.
This, he explains, is due to high fuel prices, so an increase in taxes will worsen the plight of Ghanaians.
In a statement to the press, COPEC expressed its opposition to any imminent increase in the petroleum tax: "Any attempt to impose additional tax increases instead of the rather general expectations of reduction will be met with great resistance. . "
"Some of Ghana's parliament members are already virtually certain of a potential rise in already suffocating tax levels from rising oil prices affecting Ghana's pockets."
According to COPEC, the increase in oil taxes will be "the easiest way to reduce the extra income of an already frustrated consumer of oil".
In the meantime, the purported justification for this badumption stems from the fact that, this year alone, the government will contribute $ 1 billion to subsidize the energy sector, to keep the light. Half of this will be for power that is not used but contracted.
Since last year, the government has failed to implement its ambitious but necessary infrastructure program due to the energy bills and the 14 billion GHG spent to date. ##################################################################################### 39 now to help the financial sector.
However, last November the Minister of Finance had 78 771 833, 602.12 GH ¢, approved by Parliament. This amount is expected to increase by nearly one billion GHS if the government wants the resources to carry out all of its programs, despite the risks badociated with financing electricity bills and the financial sector.
The mid-year budget review submission complies with Ghana's Financial Administration Act, which requires the Minister of Finance to appear before Parliament no later than July 31 to present a review of the budget. mid-term fiscal policy.
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