The Ghana Union of Traders (GUTA) says the passage of the three new tax bills by parliament has exposed their selfish interest.
GUTA believes the House representatives did not think of their respective constituents but their selfish and parochial interests.
Public Relations Officer of GUTA Joseph Paddy revealed on Nyankonton Mu Nsem on Rainbow Radio 87.5Fm that before the consideration of the bills, they petitioned the Committee on Trade and Industry as well as the Speaker of the House, but their petition was ignored.
“We had petitioned the committee and the Speaker to reject the amended bills. We contended that the country’s current economic situation did not lend itself to the imposition of new taxes. Traders are having trouble obtaining loans. The policy rate has now reached 29%. We pay an interest rate of 40% on loans. This is not good for business. Our cumulative tax rate at the harbour is around 51%. If you import goods worth $10,000, you must pay a $5,000 duty. These things are wreaking havoc on businesses. So it was not prudent or wise for them to impose these new taxes,” he stated.
“What we have discovered is that parliamentarians are working in their own interests rather than the interests of Ghanaians. The GUTA was not the only organisation to petition the House. The Chamber of Commerce, the Manufacturers Association, and AGI all spoke out against the new taxes, but parliamentarians supported them. We are dissatisfied. The various trade unions would hold a press conference and express our concerns to the government.”
He also believes that trading at the port has reduced imports and exports to a bare minimum and that the imposition of taxes will be the final nail in the coffin.
”When you go to the harbour, nobody is importing or exporting. You are aware the majority of revenue generated is from the harbour, but activities at the harbour have slowed, and it has affected revenue mobilisation. The new taxes could make things worse,” he added.
He has therefore declared that although the taxes have been approved, parliament could reverse the decision.
By: Rainbowradioonline.com/Ghana
