The LPG Marketers Association is concerned that Parliament’s adoption of three new revenue bills will make life unpleasant for Ghanaians.
Last Friday, after a marathon of engagements and voting, the legislature approved the tax bills, which now need President Akufo-signature. Addo’s
Many industry organisations, including the Association of Ghana Industries and the Food and Beverage Association, have expressed their disapproval of Parliament’s decision.
According to Gabriel Kumi, Vice President of the LPG Marketers Association, the development is concerning.
“When there are new taxes, everybody is affected. That is why everybody is crying. We know that government needs money, but it can’t tax its way through like that. So obviously, the taxes are going to affect general prices of goods and services, so LPG will not be an exception just that I can’t make projections for now”, he said.
LPG prices fell by 5% on Monday, with the gas now selling for 12.40p per litre, down from GH13.20p a week earlier.
This is the third time in 2023 that the commodity’s price has fallen marginally.
Although consumers can expect a further drop in the cost of LPG due to a likely lower trend in the commodity’s price in the coming weeks, this may be short-lived due to the imposition of the three additional levies.
The laws enacted are the Income Tax Amendment Bill, Excise Duty Amendment Bill, and Growth and Sustainability Amendment Bill, which are estimated to generate around GH4 billion per year in additional revenue to augment domestic revenue.
