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“Oppong Nkrumah announces President Akufo-Addo’s signing of three new tax bills into law”

On April 16, 2023, Kojo Oppong-Nkrumah, the information minister of Ghana, confirmed in an interview with Joy News that President Nana Addo Dankwa Akufo-Addo has given his assent to three new tax bills that were passed by Parliament in late March. The president’s lawyer, Kow Essuman, has also confirmed the assent and deposited the document with the Clerk of Parliament for further processing.

The three tax bills that have been passed are 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. The purpose of these bills is to generate approximately 4 billion Ghana Cedis annually in domestic revenue mobilization.

These tax bills are also essential to obtain Board Approval for the US$3 billion International Monetary Fund (IMF) Programme, following a staff-level agreement reached in late 2022. The information minister is currently part of a government delegation attending the Spring Meetings of the World Bank and International Monetary Fund in Washington DC.

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