Page 32 - Excise Duty News Today

Kristalina Georgieva, Managing Director, International Monetary Fund (IMF), says, she is happy to know that the Government of Ghana is making progress on bringing the Staff-Level Agreement (SLA) to the IMF Executive Board for approval. “Very pleased to hear authorities are making progress on bringing the staff-level agreement to the…

Treasury says it will continue to “rationalise and harmonise” tax expenditures to ensure value for money.

Pakistans mini-budget: Sales tax on general items has been increased to 18%.Federal excise duty on air travel (club, business, and first-class) has been increased to 20% of the airfare

The Government says it is engaging two eminent creditors, China and India, to ensure that Ghana’s external debt restructuring programme is fast-tracked after a successful Domestic Debt Exchange Programme (DDEP). Briefing Members of Parliament (MPs) on the DDEP on Thursday, Mr Ken Ofori-Atta, Finance Minister, said the Government had started…

Mr Ken Ofori-Atta, the Finance Minister, has appealed to Members of Parliament (MPs) to support the Government in efforts to secure the International Monetary Fund (IMF) Board approval to restore macro-economic stability in the country. That would ensure debt sustainability and provide critical social protection for the benefit of Ghanaians.…

The National Treasury extended the period for consultations on its proposed tax raises amid resistance by manufacturers.

Ceylon Beverage Holdings says they are witnessing an exponential growth of ‘Kasippu‘ (moonshine), illicit arrack and illicit toddy as the prices of legal alcoholic beverages are out of consumers’ reach. Announcing latest financial reports, Ceylon Beverage further said Policy makers should be cognizant of the fact that tax hikes on the Alcohol industry, an industry...

Government seeks to reduce budget deficit and broaden tax collection net through Finance (Supplementary) Bill 2023

The best way to manage tax audits is to prepare beforehand.

Its implication is that manufacturers of the excisable goods will pass the cost to the consumers, leading to price increases.