Parliament summons Seth Terpker over suspension of 1% tax on interests

Parliament summons Seth Terpker over suspension of 1% tax on interests

Parliament has hinted of summoning finance minister, Seth Terkper following media reports of the suspension of the 1% tax on interests rates.

Speaker of Parliament, Edward Doe Adjaho reveals the summon is because Seth Terkper flaunted the rules of parliament by going ahead to announce the suspension when in fact parliament was on recess and could not have approved the request by the ministry.

The one percent tax was proposed following the implementation of the new income tax law by the GRA to replace the repealed Internal Revenue Act (Act 592) which took effect on January 01, 2015.

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