{"id":334529,"date":"2017-07-07T06:24:09","date_gmt":"2017-07-07T06:24:09","guid":{"rendered":"http:\/\/citifmonline.com\/?p=334529"},"modified":"2017-07-07T06:24:09","modified_gmt":"2017-07-07T06:24:09","slug":"govt-unfazed-by-minoritys-threat-over-3-vat-kwaku-kwarteng","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2017\/07\/govt-unfazed-by-minoritys-threat-over-3-vat-kwaku-kwarteng\/","title":{"rendered":"Gov\u2019t unfazed by Minority\u2019s threat over 3% VAT &#8211; Kwaku Kwarteng"},"content":{"rendered":"<p>A Deputy Minister of Finance, Kwaku Kwarteng says the government is not worried about the Minority\u2019s plan to head to court over the implementation of a <span style=\"color: #666699;\"><strong><a style=\"color: #666699;\" href=\"http:\/\/citibusinessnews.com\/index.php\/2017\/07\/04\/fuel-prices-to-drop-by-2-in-first-pricing-window-in-july\/\">3% flat VAT<\/a><\/strong> <\/span>rate scheme.<\/p>\n<p>According to him, it is surprising that the minority who had agreed to the amendment in Parliament would backtrack and claim it is unlawful.<\/p>\n<p>[contextly_sidebar id=&#8221;EhzQW6y6Efm9p9o0om2xMon4BIiWtOfA&#8221;]Speaking <strong>Eyewitness News<\/strong> on Wednesday, Kwaku Kwarteng said the Minority was \u201cat Liberty to go to court\u201d over the matter.<\/p>\n<p>\u201cThis particular amendment when it went to the Finance Committee, the Minority supported it on the floor. They did not vote No. Today it has become a law and let\u2019s not pretend that somebody is doing something unlawful. It is perfectly lawful. Anybody that feels that after they have voted for it have now realized that there elements of the amendment that is unlawful, they are at liberty to go to court to seek correction. We will not stand in their way,\u201d he said.<\/p>\n<p>The Minority in Parliament yesterday [Thursday] threatened to go to court to compel the <a href=\"http:\/\/citibusinessnews.com\/index.php\/2017\/07\/03\/businesses-increase-prices-as-3-vat-flat-rate-takes-off\/\"><strong>Ghana Revenue Authority<\/strong><\/a> (GRA) to halt the implementation of the 3% VAT flat rate scheme.<\/p>\n<p>According to the Minority, the scheme was not consistent with existing laws governing Value Added Taxes and as such, its implementation was illegal and should be halted.<\/p>\n<p>The Minority Spokesperson on Finance, Cassiel Ato Forson had said that the Scheme violates the VAT ACT 870 and could not be implemented.<\/p>\n<p>He said through the GRA and Minister of Finance, the government was attempting to trick Ghanaians into thinking taxes were being scrapped, while introducing a new one \u201cthrough the backdoor.\u201d<\/p>\n<p>But Kwaku Kwarteng\u00a0said the 3% flat rate scheme was geared towards simplifying the <a href=\"http:\/\/citibusinessnews.com\/index.php\/2017\/07\/05\/ken-ofori-atta-faces-parliament-over-3-vat-controversy\/\"><strong>tax system<\/strong><\/a> in the country.<\/p>\n<p>The GRA commenced the implementation of the new flat rate scheme on July 1st, 2017.<\/p>\n<p>Until now the scheme had been restricted to some categories of businesses in the retail sector but this new system means it has now has been extended to cover manufacturers and importers.<\/p>\n<p>Some business associations had earlier met with the Vice President, Dr. Mahamudu Bawumia in a bid to get the policy scrapped, a move which proved unsuccessful.<\/p>\n<p>This has also led to about twenty percent rise in the prices of goods.<\/p>\n<p>&#8211;<\/p>\n<p>By: Jonas Nyabor\/citifmonline.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Deputy Minister of Finance, Kwaku Kwarteng says the government is not worried about the Minority\u2019s plan to head to court over the implementation of a 3% flat VAT rate scheme. According to him, it is surprising that the minority who had agreed to the amendment in Parliament would backtrack and claim it is unlawful. [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[58,10,11],"tags":[9002,3,2013],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Gov\u2019t unfazed by Minority\u2019s threat over 3% VAT - Kwaku Kwarteng - Citi 97.3 FM - Relevant Radio. Always<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/citifmonline.com\/2017\/07\/govt-unfazed-by-minoritys-threat-over-3-vat-kwaku-kwarteng\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gov\u2019t unfazed by Minority\u2019s threat over 3% VAT - Kwaku Kwarteng - Citi 97.3 FM - Relevant Radio. Always\" \/>\n<meta property=\"og:description\" content=\"A Deputy Minister of Finance, Kwaku Kwarteng says the government is not worried about the Minority\u2019s plan to head to court over the implementation of a 3% flat VAT rate scheme. According to him, it is surprising that the minority who had agreed to the amendment in Parliament would backtrack and claim it is unlawful. 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