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Business News of Monday, 6 February 1995

Source: --

Finance Committee Receives 30 Memoranda

More than 30 memoranda from organised groups and individuals have been received by the Parliamentary Finance Committee on the Value Added Tax (VAT) (Amendment) Bill, which is being considered by Parliament.

A source close to the committee, which disclosed this to the Graphic in Accra yesterday said sentiments expressed in the memoranda range from outright withdrawal of the VAT to substantive reduction in the present tax rate of 17.5 per cent.

Another source told the Graphic that it is the general feeling within the Finance Committee that manufacturers, wholesaler, exporters and importers should pay the VAT with retailers having an exemption.

Meanwhile, it is the general feeling of Parliament that much time would be required to deal with the bill in view of the volume of memoranda presently before the committee.