President Mahama Denies Reports Government Is Planning On Taxing Pensions And Allowances

1 min


Seth-Terkper-and-John-Mahama

President John Dramani Mahama has pushed back forcefully against reports that government is planning on introducing new taxes, particularly on pension contributions and allowances.

The President, in a short statement on twitter Tuesday, denied that the implementation of any new taxes is under consideration.

“Government has no intention of introducing new taxes.” The President’s official twitter handle tweeted Wednesday night.

The reports about intended new taxes emerged after Finance Minister Seth Terkper told a conference that government must explore taxing allowances and other sources such as social security contributions, all of which can be classified as income.

“Yes allowances must be taxed.  Allowances are income. The issue I know is a very difficult one, it’s about taxing income and if you do not define income broadly, you will have tax payers either through avoidance or hiding the income in areas which are not taxed. It’s a thorny one. But remember that as you make your social security contributions, they are exempted from tax even though it is part of your income,” he said.

With the current untenable economic conditions, and government during so much flak for it, it is no wonder the President took no time to nip this in the bud.



CLICK HERE For Cheap IT Support & Web Design Services—The Web Guys

Nii Smiley Byte
My friends call me Moonbyte, my Mum named me Godwin. I am the Managing Editor of GhanaCelebrities.Com and I have three strong passions in life -- football, blogging and music -- in that order. I also love spending time with friends talking about the important things in life. I hate nothing more than 'authority' and can't stand hypocrisy fueled by dogma. My personal motto is that you can do everything you set your mind to, which I stole from my favourite person of all time Eminem. Contact: [email protected]l.com

0 Comments

Your email address will not be published. Required fields are marked *