Thursday, 28 September

2.5% VAT increment: Ablakwa questions Akufo-Addo's 'principle and integrity

President Nana Akufo-Addo

The National Democratic Congress (NDC) Member of Parliament for North Tongu Constituency in the Volta Region has questioned the integrity of President Nana Addo Dankwa Akufo-Addo in the matter of increment in the Value Added Tax (VAT).

The government in its budget statement last Thursday, November 24, 2022, increased VAT by 2.5 per cent pushing the threshold for the payment of VAT to 15 per cent.

The Ranking Member on the Parliamentary Select Committee on Foreign Affairs, Mr Samuel Okudjeto-Ablakwa questioned the integrity of the president while speaking to the press after the finance minister, Ken Ofori-Atta, delivered the country’s fiscal policy statement for 2023 to the Legislature.

"I was shocked to hear the president increasing VAT at a time many countries are cushioning their citizenry," he said.

"This is a president who organized 'Kumepreko, Sieyenkpreko' among other demonstrations against the introduction of VAT in the early 1990s," the lawmaker highlighted.

"Where have principle and integrity run to? I am embarrassed by the legacy the president is leaving behind for the next generation," he further charged.

"How on earth will this man be increasing VAT at this crucial moment of our times when businesses are folding up because of the high cost of doing business in the country?" he questioned.

Source: Mensah