Parliament summons finance minister over "troubling" 3% VAT rate

Parliament summons finance minister over "troubling" 3% VAT rate

- Parliament will be summoning the finance minister over the implementation of a 3 percent VAT flat rate

- Private sector businesses say the VAT has the potential of crippling their businesses

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Finance minister, Ken Ofori Attah, will be facing parliament today to answer questions regarding the introduction of a said 3 percent VAT flat rate.

Parliament summons finance minister over "troubling" 3% VAT rate

Parliament summons finance minister over "troubling" 3% VAT rate

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This invitation, which was extended to the minister by the finance committee in parliament, will see the finance minister address hundreds of concerns by private businesses over how the flat rate could result to the collapse of their business.

“We are going to meet with the AGI, Unilever, importers among others to listen to them. We will also invite the minister of finance and lay before him what the industry is saying and we will actually look at the memorandum of the bill; the intent of the bill and what actually they are doing the law is saying,” deputy finance minister, Ato Forson,

The summons of the finance minister comes in the wake of the minority in parliament taking their quest for answers over the controversial $2.25 bond issue to yet another level, by petitioning an investment investigating firm in Europe by the name Commission de Surveillance de Secteur Financier (CSSF).

The delegation of NDC members of parliament include Dominic Ayine (Dr.), Hon. Samuel Okudzeto Ablakwa and Hon. Isaac Adongo who have all registered a whistle-blower complaint with the regulator in Luxembourg.

The move by the NDC minority follows a recent presentation by the finance minister, Ken Ofori Attah over the due diligence that government went through just to ensure that the highly subscribed bond is not scandalized with various loopholes.

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