The Insight – NPP’s 2017 budget out soon.

 

The_Insight_12_01_2017Reliable sources within the New Patriotic Party (NPP) hint that Nana Akufo Addo has put together a very strong team to prepare the national budget for 2017.

Although the exact date for the presentation of the budget to parliament has not been disclosed public expectation is very high and it is strongly believed that it will bring about substantial relief to many Ghanaians.

The team believed to be working on the budget include, Mr Ke Ofori Atta of Data Bank, Mr Yaw Osafo Maafo former Minister of Finance, Mr Anthony Osei, former Minister of state for Finance and several others.

It is expected that a substantial reduction in petroleum prices and utility bills will be announced in the budget.

The NPP has also promised to reduce corporate tax from 25 percent to 20 percent.  It is expected to remove import duties on raw materials and machinery for production within the context of the ECOWAS common External (CET) Protocol.

The special import levy is to be abolished along with the 17.5 per cent VAT on imported medicines.

The 17.5 per cent VAT on Financial Services, 5 per cent VAT on Real Estates sales as well as the 17.5 percent VAT on domestic airline ticket are also to be abolished.

 



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