Minority vows to resist 17.5% petroleum tax

• Posted on November 20, 2014November 20, 2014
• by Nana Kwesi Coomson
• Comment

The Minority says it will reject the 17.5 per cent petroleum tax which government is threatening to pass under a certificate of urgency.

The Minister of Finance Seth Terkper announced the newly proposed tax during his presentation of the 2015 Budget Statement Wednesday.

The new tax, among other things, is to stabilise the petroleum and energy sector which have seen some challenges in recent years.

The Minister shortly after the presentation of the budget, laid before Parliament, under a certificate of urgency the new Petroleum tax bill which will see the prices of petrol, gas, kerosene increase by 17.5 per cent.

The bill will be put before Parliament ‘s Finance Committee for scrutiny.

But the minority has promised to resist the passage of this new tax. They have called a caucus meeting to strategise on how to resist the new tax, Joy News’ Parliamentary correspondent Elton John Brobbey reported.

In an interview with Joy News, Dr Mark Assibey-Yeboah MP for New Juaben South Constituency has described the tax as criminal and insensitive.

He said at a time when the price of crude oil has fallen on the international market and everybody is demanding a reduction in the local market, there cannot be any justification for this new tax.

“I don’t know who is advising government. Nobody in his right sense will defend this,” he stated.

But the Deputy Communication Minister, Felix Kwakye Ofosu has vehemently defended the new tax. He says the new tax will not affect Ghanaians.

He said the new tax is to inject greater efficiency in government revenue adding the necessary legal procedures will be followed to pass the new law after which the necessary explanation would be offered to Ghanaians.