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23.02.2005 General News

We have committed no illegality - NPP MP

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Accra, Feb.23, GNA- Mr Osei Kyei-Mensah-Bonsu, Majority Chief Whip, on Wednesday night said the majority party and its partners have not committed "any illegality" by seeing through the bill relating to petroleum taxes and levies. He said the law which comes into effect on Wednesday, February 23, had negated the Minority's accusation that the law had a retroactive character and therefore, unconstitutional. The member was speaking during the consideration stage of the Customs and Excise (Petroleum taxes and Petroleum Related levies) Bill. The law, which passage earned the anger and subsequent walkout by the Minority seeks to amend duties, taxes and levies on specified petroleum products. One of the novelties the law has introduced into the petroleum tax regime is the "Social Impact Mitigating levy." The levy seeks to generate revenue to mitigate the impact of the upward price adjustment of petroleum products on the general public, especially the poor and the vulnerable. The Convention Peoples Party (CPP) and People National Convention (PNC) have announced that their sympathises lie with the New Patriotic Party (NPP) in Parliament.

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