Dr. Mahamudu Bawumia, the flagbearer of the New Patriotic Party (NPP), has reiterated his pledge to introduce a flat-rate tax system in Ghana, similar to Estonia’s model.
This initiative, if implemented, will support Ghanaian businesses and simplify tax administration by providing taxpayers with visibility into their tax obligations.
The flat-rate policy he explained will make it easier for businesses to file and pay their taxes, thereby propelling growth.
He made his remarks at the launch of the party’s manifesto in Takoradi, Western Region, on Sunday, August 18, 2024.
A new NPP administration would cut government expenditure by 3% of GDP when elected in the 2024 general elections, he added.
“[We will] support businesses to drive and accelerate job creation by cutting 3% of GDP from government expenditure (~GH₵30 billion), and redirecting it towards private sector provision of public infrastructure and services. Using our tried and tested gold purchase programme to stabilise the currency, give businesses and industries predictability in planning, and ensure stability in input prices.
“Introduce a flat rate tax system in Ghana, like Estonia. This will simplify the tax administration by giving taxpayers visibility into their tax obligations and therefore easier to file and pay their taxes
“Complement the Flat Tax regime by using a Tax Amnesty Programme to enable industries to finance their expansion, recruit more employees, and energise economic activity.”
By: Rainbowradioonline com/Ghana
