Government’s continuous imposition and introduction of taxes on businesses is making Ghanaian businesses uncompetitive locally and on the international market.
This is according to the Association of Ghana Industries (AGI).
In view of this the AGI has hinted of plans to demand from government reduction in taxes for its members.
President of the AGI, James Asare Adjei who was speaking at the associations 56th Annual General Meeting in Kumasi stated the displeasure of AGI memebers over the introduction of taxes without proper consultations by government with the business community.
“This year, businesses were subjected to new taxes without any consultations; this the AGI and its members are not happy with the development and have therefore engaged the Ministry of Finance on this subject matter extensively.”
According to him these policies though helps government to raise revenue, over the years have contributed significantly to the collapse of Ghanaian businesses especially in the manufacturing sector which heither to had prospects to grow and expand.
“We as AGI are not very pleased with the tax regime in this country and wish to use this medium to inform the government that the tax obligations expected of our members is too much,” he stated.
Notable among them is the 17.5% VAT, 3% VAT Flat rate as well as some port charges.
President of AGI James Asare Adjei also announced of plans of the associatin to conduct a study to assess the various taxe regimes and their impact on businesses.
“With the support of BUSAC fund, we have engaged a consultant to conduct an extensive study on the tax regime relating to the private sector; the study will give comprehensive information about the various taxes and recommend the ones that require reforms.”
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