News
I will scrap betting tax in first budget-Dr.Ato Forson
Minister of Finance Designate, Dr.Casiel Ato Forson has given the strongest indication that the betting tax will be scrapped as promised by his party, the National Democratic Congress (NDC).
Dr.Ato Forson revealed during his vetting before the Appointment Committee of Parliament that scrapping the Betting Tax will not harm the economy.
Again, he added that to raise revenue, he will focus on tax compliance by increasing the tax net and cutting down on expenditure.
This, he was optimistic, would increase the tax revenue and cushion the economy.
“Some of the taxes out there are not bringing in the revenue that they should. For example, the betting tax is bringing in less than GH₵50 million a year; it is a nuisance tax,” he revealed.
Dr.Ato Forson concluded by saying that the betting tax would be scrapped in the first budget.
By Edem Mensah-Tsotorme
News
President Mahama revokes appointment of MIIF Boss
President John Dramani Mahama has revoked Edward Nana Yaw Koranteng’s appointment as Chief Executive Officer (CEO) of the Minerals Income and Investment Fund (MIIF).
Following this, the Finance Minister-designate Dr. Cassiel Ato Forson has been tasked with overseeing the fund until a new CEO is appointed.
The Secretary to the President, Dr.Callistus Mahama, indicated in the letter, “ I write to formally inform you that H.E. John Dramani Mahama has revoked your appointment as the Chief Executive Officer of the Minerals Income and Investment Fund, effective immediately.”
It added that “You are directed to hand over your duties to the President’s representative at the Ministry of
Finance. Hon, Dr. Ato Forson will oversee the operations of the Fund until a substantive Chief Executive Officer is appointed.”
By Edem Mensah-Tsotorme
News
Looming Power Crisis: ESLA was mismanaged – John Mahama
President John Mahama has said the
Energy Sector Levy (ESLA) was not used for its intended purpose, and the revenues from it were mismanaged.
In a meeting with stakeholders in the sector yesterday, he said the critical challenge in the energy was the debt and how to pay.
For this reason, he said his government then introduced the ESLA with the expectation that within five years, enough revenue would be generated to pay the legacy debt.
“After we passed it, we left office in December, and a new government came in, and they had other ideas and ways of doing things,” he said.
Against this backdrop, he said ESLA was not used for its intended purpose.
According to him, revenues of ESLA were mismanagement, “what should have gone into payment of the legacy debt was used for other purposes leading to the current situation.”
“While we take responsibility for solving challenges, we must let the Ghanaians know the challenge before we go to solve it,” President Mahama concluded.
By Edem Mensah-Tsotorme
