Recap of taxes in the 2022 budget…

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Afrobarometer survey: We want to pay more taxes - Ghanaians – Dailymailgh

1.Increased VAT by 5% and this affected all items (through the decoupling of NHIL and GETFund Levies)

2.Luxury car tax

  1. 3% VAT flat rate
  2. COVID-19 tax
  3. Sanitation tax
  4. 5% National Fiscal Stabilization Levy (should have expired in December,2017 but was extended indefinitely making it a new tax)
  5. 2% component of Special Import Levy (extended beyond 2017 sunset clause making it a new tax)
  6. Increased ESLA by 30% and extended it for another 15 years
  7. Increased Communication service tax by 50%
  8. Increase the VAT Flat rate from 3% to 4%
  9. Financial Sector Levy of 5% on all Banks
  10. Price Stabilization and Recovery Levy on fuel increase by 40%
  11. The Unified Petroleum Pricing Formula has been increased by 164%
  12. BOST margin has increased from 3 Pesewas to 9 Pesewas representing 200% increase.
  13. The fuel marking margin levy has also been increased by another 233%
  14. Reversal of Benchmark Values discounts which will lead to a 25-30% increase in prices of imported items.
  15. Electronic Transactions Levy which will affect Momo,Bank Transfers,Merchant Payments and Inward Remmitances.
  16. 15% in All government fees and charges.

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