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Review petroleum taxes – COPEC urges gov’t

Chamber of Petroleum Consumers (COPEC) Ghana

Chamber of Petroleum Consumers (COPEC) Ghana

The chamber of Petroleum Consumers (COPEC) Ghana has challenged the government of Ghana to give Ghanaians some relief by reviewing the numerous taxes in the petroleum pricing build-up, as a matter of urgency to bring about some steadiness and decline to easiness the pressure on them.

Mr Solomon Kotei, General Secretary of Industrial and Commercial Workers Union, briefing the press last Friday, encouraged the government to rather introduce new and resourceful ways of expanding the tax bracket to attract more revenue than the over-concentration on the petroleum taxation.
General Secretary of Industrial and Commercial Workers Union,said, the government must proactively explore other revenue-generating sources for national development as the over-dependence on petroleum taxation affects every aspect of our lives and that of the economy generally because of its chain effects, not even the size and price of kenkey is spared.

Mr Kotei added that the current situation, if not urgently addressed by the government, will leave Ghanaians with having to cough up even more cash to be able to go by their daily activities in the face of harsh conditions of living to pay for further increases in petroleum products in February.

According to the General Secretary, what is even troubling is that close to 50% of the total cost of fuel in Ghana at the pumps is nothing but one tax or another with the Special Petroleum Tax (SPT) alone pegged at 15% on ex-depot price position which at present translates into 0.53p per litre, thereby meaning Ghanaians pay on each gallon of 4.5 litres a tax burden of ¢2.39p.

The post Review petroleum taxes – COPEC urges gov’t appeared first on Ghana Live TV.



This post first appeared on Watch Gtv Ghana, Adom TV, Tune Ghana Radio GhanaLi, please read the originial post: here

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