(Bloomberg) Ghana's parliament today approved new tax measures expected to raise an additional $340 million in revenue in a bid to meet requirements for the International Monetary Fund's $3 billion bailout program.
In a tight vote, the country's hung parliament passed the measure 137 to 136. The bills will increase some income taxes and corporate taxes, as well as the excise duty on cigarettes and various alcoholic and sweetened beverages.
Ghana is restructuring most of its public debt, which stood at about 575.7 billion cedis ($47 billion) at the end of November, to qualify for the IMF support package. The taxes will help facilitate IMF approval for the funding after bilateral creditors give the necessary financial assurances. Ghana is now targeting an agreement by the end of April, after the March deadline was missed.
-
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI -
"I Am A Material Man In A Material World': Quantum Advisors' Ajit Dayal On NDTV Profit Ignite
NOTE: Ghana Lawmakers to Vote on New Tax Bills to Rake in $340 Million
More stories like this are available on bloomberg.com
©2023 Bloomberg L.P.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.