I expect special import levy, VAT on financial services scrapped -Dr. Assibey Yeboah

The Chairman of the Public Accounts Committee of Parliament Dr. Mark Assibey Yeboah is looking forward to seeing the scrapping of a number of taxes in the maiden budget statement of the ruling New Patriotic Party to be presented by the Finance Minister on Thursday.

"In fact some taxes have to be scrapped as a form of stimulus package to businesses," he stated.

Previous National Democratic Congress government led by former president John Dramani Mahama introduced a number of taxes including the 1% import levy and 17% VAT on financial services.

Many businesses raised concerns about the numerous taxes citing the impact on them, but government remained adamant.

Speaking on Oman National Agenda Wednesday ahead of the budget Dr. Mark Assibey Yeboah was of the view that 1% special import levy and 17 % VAT on financial services were a nuisance and should be scrapped.

He indicated that the he is hopeful the current administration would do the needful by scrapping these taxes in a bid to cushion industries.

This, he argued, would enable the businesses to expand and absorb more workers.

Dr. Assibey Yeboah also wants government to scrap the infrastructure fund which was created by the previous administration saying it was not necessary.

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