11 Major Highlights From 2023 Budget That Summarizes The Document Presented To Parliament Today 24th November 2022

11 Major Highlights From 2023 Budget That Summarizes The Document Presented To Parliament Today 24th November 2022

1. The dreaded E-Levy has been reduced from 1.5% to 1%

2. The daily threshold of Ghc100 exempted from the E-levy has been scrapped

3. Value Added Tax (VAT) has been increased to 2.5%

See also: Percentage Salary Increase Used To Prepare 2023 Budget By The Government And IMF

4. Recruitment into the public sector jobs has been freezed effective January 2023.

5. No government agency or organisation will be established in 2023

6. Expenditure on appointees including salary will be freezed together with suspension of certain allowances like housing, utilities, and clothing. etc

See also: Labour Unions And Government In Confusion Over Monday’s Salary Negotiations For 2023 [The battle is the lord’s]

7. Budgetary allocation for the purchase of vehicles will be limited

8. A ban on the use of V8s/V6s or its equivalent except for cross country travel

9. All non-critical project will be suspended for the 2023 financial year

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10. There shall be no hampers in 2022.

11. A freeze on new tax waivers for foreign companies and review of tax exemptions for free zone, mining, oil and gas companies.

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