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AUDIO: VAT Increment: NDC must bow their heads in shame – Masloc Boss

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Chief Executive Officer of the Microfinance and Small Loans Centre (MASLOC) Stephen Amoah has lashed out at the opposition National Democratic Congress (NDC) for claiming that government was about to increase VAT.

He said members of the NDC should bow down their heads in shame for what he describes as causing fear and panic in the country.

“I was very happy when I heard the Finance Minister confirming that government will not increase tax. So I kept asking myself why the NDC would make such baseless prediction that there would be an increase in tax.

RELATED: Finance Minister lied to us over VAT increase – Ato Forson

“All of them should bow down their heads in shame apologise to Ghanaians for misleading us because that did not happen. Always want to paint the Akufo Addo government black” he said.

Even before the mid-year budget review was presented by the Finance Minister Thursday, the NDC had already predicted an increase in tax by the government.

According to them, the government intends to increase Value Added Tax, (VAT), from 17.5% to 21%.

ALSO: VAT rate increased in disguise; don’t jubilate yet – Seth Terkper

However, the Minister of Finance, Ken Ofori Attah told parliament that there will be no increase in taxes as has been speculated on social media.

“We aren’t collecting as much as we should but that does not mean increasing taxes is the solution. I would like to assure the House that there will be no increase in taxes”, he said on Thursday in parliament.

But speaking on Adom FM’s Morning Show “Dwaso Nsem” Friday, Mr. Amoah wondered why the opposition NDC would complain about the tax increment when the Mahama-led government used eight years to destroy the socio-economic fundamentals of Ghana.

RELATED: No increase in taxes – Finance Minister assures

He, however, believes the new levies announced during the mid-year budget review were necessary for the long-term health of the economy.

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