Ghana Raises Value-Added Tax to Boost Revenue For Project
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Ghana will use the extra money raised from a higher value-added tax to fund infrastructure projects starting next year, Deputy Finance Minister Cassiel Ato Forson said.
The increase to 15 percent will provide an additional 745 million cedis ($333.9 million) in revenue, Forson said in an interview on Citi FM Radio today. Parliament raised the VAT from 12.5 percent, he said. Finance Minister Seth Terkper will present the 2014 budget to Parliament Nov. 19.