The Deputy Finance Minister, Kwaku Kwarteng, says the New Patriotic Party (NPP) government is private sector oriented hence the decision to cut the special petroleum tax.
The Ministry of Finance reportedly laid a Special Petroleum Tax (Amendment) Bill, 2018 that seeks to reduce the Special Petroleum Tax of 15 percent to 14 percent to help reduce the prices of petroleum, which in recent times, have seen upward adjustment.
The Special Petroleum Tax Bill was introduced by the immediate past National Democratic Congress (NDC) government in 2016 to shore up revenues generated from fuel prices when crude oil prices were low.
Speaking to Ekourba Gyasi on Atinka AM Drive, Deputy Finance Minister, Kwaku Kwarteng explained that erstwhile Mahama administration were interested in taxes even though they had no projects to fund unlike the NPP which has free SHS among others to fund.
He said the NPP would have scrapped all taxes if they had the opportunity.
Ghana | Atinkaonline.com