Accra: The Chairman of the House Finance Committee, Mr. Sallas-Mensah, MP, has expressed concerns over the swift passage of the VAT bill which, along with a petroleum increase bill, was approved within a 24-hour period. He revealed to the Ghanaian Chronicle that the bill was expedited as it was presented under a certificate of emergency, leaving no room for thorough parliamentary debate or public input.
According to Ghana Web, Mr. Sallas-Mensah emphasized that the issue isn't the VAT law itself but rather the rate at which it was set. He suggested that a comprehensive review is necessary to address these concerns. Proposing solutions, the MP advocated for an increase in the threshold from C25 million to C100 million, providing relief for small traders and business owners. Additionally, he recommended reducing the VAT rate to 10 percent to encourage voluntary compliance, suggesting that this approach would result in broader participation and ensure revenue targets are met.