The Chairman of the Mines and Energy Committee of Parliament, Samuel Atta Akyea, says calls for the removal of some taxes on fuel products in the country are in order.
According to him, some taxes have outlived their use given the current economic situation of the country and even across the world.
Speaking to Citi News, he said some taxes were introduced to cushion the government in cases where crude prices globally fell but with the price rising drastically in recent times, such taxes cannot be maintained.
“Some taxes were underpinned by the fact that crude oil prices may go low, and therefore we needed some money as back up in the event that it goes terrible for us. Now, the reasons for some taxes are redundant, like crude prices going up, and we will have some windfall, but these are the factors that will speak to him [Finance Minister]. It is about time we have a paradigm shift, given the new facts and the numbers.”
Mr. Atta Akyea also made calls for the capacity of the Tema Oil Refinery to be improved to make it a hub for refining huge quantities of crude within the subregion.
“If we get the refineries working hard, I’m sure within West Africa, people will come to refine their oil in Tema, and we will ultimately benefit,” he said.
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