President of the Ghana Union of Traders (GUTA), Dr. Joseph Obeng, says the government is aware excessive taxation impeds on productivity, yet it has ignored these and taxing businesses.
He said the government is aware that excessive tax destroys businesses. But here we are that a government that promised to move from taxation is overburdening us with excessive taxes”.
He also took a swipe at parliament, saying it had an opportunity to reject the three new taxes but allowed its selfish political interest to blind them.
He said several business groups petitioned parliament and expected them to have considered the petitions, but they did not ”and went ahead to pass it. We do not approve of the new taxes. The excessive taxes in Ghana has ruled Ghana out of competition as a business destination”.
Dr. Obeng went on to say that due to Ghana’s harsh business environment, activities in our harbours have been reduced to a bare minimum.
He also stated that the government failed to consult with them before approving these taxes. He made the remarks in an interview on Frontline on Rainbow Radio 87.5Fm.
Parliament last week approved four financial bills presented by the government, and the bills are expected to raise 4 billion Ghana Cedis per year to increase domestic revenue mobilisation.
The bills, which include the Excise Duty Amendment Bill 2022, the Growth and Sustainability Levy Bill 2022, the Ghana Revenue Authority Bill 2022, and the Income Tax Amendment Bill 2022, are also required for the Board of Directors to approve the $3 billion International Monetary Fund (IMF) Programme staff-level agreement.
By: Rainbowradioonline.com/Ghana
