Close Menu
MyGhanaDaily
    Facebook X (Twitter) Instagram
    MyGhanaDaily
    Monday, October 6
    Trending
    • Speaker of Parliament postpones resumption of parliament
    • African Union Soil Observatory Project Officially Launched
    • Hannah Awadzi of GNA awarded the Most Outstanding Female journalist for 2025
    • NIA to issue Ghana Cards to children aged 6–14 from October 6
    • The People’s Poet Speaks Again – Omar Sterling Announces VTH 2 Mixtape
    • The Business Side of Ghanaian Music Nobody Talks About
    • Top 10 Rap Verses in Ghanaian Hip-Hop History
    • Best Ghanaian Music Videos of All Time
    Your Marketplace Banner
    • News
    • Business
    • Entertainment
      • Music
      • Movies
      • Fashion
      • Celebrity news
    • Sports
    • Health
    • Technology
    • Agriculture
    • Opportunites
    • Videos
    • More
      • Education
      • Tourism
      • History
      • Feature
      • Opinion
      • World
    MyGhanaDaily
    Home»Finance»Mid-year budget review: Energy consultant calls for removal of some petroleum taxes
    Finance

    Mid-year budget review: Energy consultant calls for removal of some petroleum taxes

    Ellen NusiBy Ellen NusiJuly 29, 2021No Comments2 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Yussif Sulemana 750x375 1 e1627560829132

    An energy consultant, Dr. Yussif Sulemana says he expects the government to review some taxes introduced in the petroleum sector ahead of the presentation of the 2021 mid-year budget review today, Thursday, July 29, 2021.

    He argues that as oil prices on the global market continue to surge, the government stands to make up for any revenue shortfall that could occur if it goes ahead to scrap some of these taxes.

    Send your stories to Email: myghanadaily@gmail.com • WhatsApp: +233 577 145 140

    “We projected maybe around 54 dollars a barrel because there are always projections in the budget. Now we have oil prices around 74 dollars a barrel. That means that potentially we could have extra revenue provided the oil price stays as it is. In the budget review, I expect the government to juxtapose our gains within the upstream and try to see whether there is a way they can cushion consumers at the downstream.”

    He added that the removal of the taxes could help in reviving the economy amidst the impact of the COVID-19 pandemic.

    “Economies are still recovering and Ghana is not an exception, so what we should look at is to continue to find means and ways to stimulate economic growth and stimulating economic growth means you have to reactivate consumer spending. Consumer spending will be reactivated when goods and services are reachable, available and affordable. Going forward, I think we should revisit the taxes.”

    Oil prices started the year at about 40 dollars a barrel, but currently, a barrel goes for 74 dollars.

    The government as part of its revenue mobilization drive introduced some levies and taxes in the 2021 budget, a move many criticized.

    The taxes are the COVID-19 Health Recovery Levy Act, 2021 (Act 1068), Financial Sector Recovery Levy Act, 2021 (Act 1067) and the Energy Sector Levy (Amendment) Act, 2021 (Act 1064).

    There is the Energy Sector Recovery Levy of GH¢20 pesewas per litre of petrol or diesel, and 18 pesewas per kg on Liquefied Petroleum Gas (LPG), while a Sanitation and Pollution Levy of GH¢10 pesewas per litre of petrol and diesel respectively was also introduced.

    Source: citinewsroom

    Send your news stories to
    Email: myghanadaily@gmail.com • WhatsApp: +233 577 145 140
    Advertise with us | Follow our WhatsApp channel for more news
    finance Government
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleMid-Year budget review: Ashanti Region Poultry farmers want insurance scheme
    Next Article Mobile Money transactions’ value shoot up by almost 100% in June 2021
    Ellen Nusi

    Related Posts

    GRA takes tax education to markets as part of GH¢360 billion revenue drive

    May 9, 2025

    Don’t hold back on your ideas due to lack of funds – women advised

    May 3, 2025

    Ghanaian workers call for reset in service conditions

    May 1, 2025
    LATEST NEWS
    • Speaker of Parliament postpones resumption of parliament
    • African Union Soil Observatory Project Officially Launched
    • Hannah Awadzi of GNA awarded the Most Outstanding Female journalist for 2025
    • NIA to issue Ghana Cards to children aged 6–14 from October 6
    • The People’s Poet Speaks Again – Omar Sterling Announces VTH 2 Mixtape
    SPORTS NEWS

    2026 FIFA WCQ: Ghana beats Mali

    September 9, 2025

    The Black Stars Podcast: A six-part dive into Ghana’s football history, struggles and sparks of glory

    August 30, 2025

    2026 World Cup qualifiers: Black Stars set to open camp on September 1

    August 27, 2025

    Felix Afena-Gyan Joins Amedspor on Season-Long Loan

    August 21, 2025

    Ayew Stays Positive as Foxes Target Quick Response

    August 21, 2025
    Recent Posts
    • Speaker of Parliament postpones resumption of parliament
    • African Union Soil Observatory Project Officially Launched
    • Hannah Awadzi of GNA awarded the Most Outstanding Female journalist for 2025
    • NIA to issue Ghana Cards to children aged 6–14 from October 6
    • The People’s Poet Speaks Again – Omar Sterling Announces VTH 2 Mixtape
    Like Us On Facebook
    Facebook Pagelike Widget
    • Facebook
    • Twitter
    • Instagram
    © 2019 -2025 Copyright | MyGhanaDaily.com

    Type above and press Enter to search. Press Esc to cancel.