Parliament has approved the three new bills which according to the government will be pivotal to assisting the government’s quest to expedite the board approval for the $3 billion International Monetary Fund (IMF) Program staff-level agreement.
Parliament has since passed all three revenue bills, the Excise Duty Amendment Bill 2022, the Growth and Sustainability Levy Bill, 2022, the Ghana Revenue Authority Bill 2022, and the Income Tax Amendment Bill 2022.
As part of measures to meet the criteria set by the IMF to qualify for a bailout, the government has completed tariff adjustment by the Public Utilities Regulatory Commission (PURC), Publication of the Auditor-General’s Report on COVID-19 spending, and Onboarding of Ghana Education Trust Fund (GETFund), District Assemblies Common Fund (DACF) and Road Fund on Ghana integrated financial management information system (GIFMIS).
The government is seeking to generate approximately GH¢4 billion per year to supplement domestic revenue.