We should slash this "24-hour" VAT

The Chairman of the House Finance Committee, Mr Sallas- Mensah, MP has told the Ghanaian Chronicle that the VAT bill came from the cabinet under a certificate of emergency and so MPs had only 24 hours to pass it and petroleum increase bill.

"There was no proper debate" he told the paper adding that people did not have the chance to make any inputs. "I donAEt think people are complaining about the VAT law itself, but about the rate, and we are going to have a major review....."

The MP suggested also that the threshold which stands around C25 million should be increased to C100 million to allow the small time traders and businessmen breathing space, and the VAT rate itself reduced to 10 percent. "You have to give a rate that will bring about voluntary compliance instead of all these exemptions. By this more people will pay VAT and the target will be achieved", he added.