We will review laws to ease the burden of taxes on Ghanaians – Mahama

Former President John has stated that his administration will ease the tax burdens on the Ghanaian people.

Speaking at the 9th Ghana CEO Network Business Cocktail Thursday, December 07, 2023, Mr. Mahama said the 2024 budget of the government presented to Parliament has introduced a raft of taxes that will only add to a list of already burdensome taxes.

According to the former President, the move by the government are clear signs of an ailing economy.

“An economy whose industrial base is failing and businesses collapsing with growing unemployment and its associated poverty and misery. Unemployment remains high, with the latest data indicating about 14%.

“These taxes, combined with very high-interest rates, will further whittle away the capital of Ghanaian businesses and hinder their competitiveness. The economic crisis has ravaged all of us, but as business leaders, you have a deeper appreciation of the current situation.

“Paraphrasing Bob Marley and the Wailers, “who feels it, knows it.” Undoubtedly, the economic catastrophe we face is self-inflicted and caused by this government! However, for the sake of Ghanaians and the future of our dear country, we cannot allow the status quo to continue,” Mr. Mahama stated.

He stated that as flagbearer of the National Democratic Congress, “I have put forth several proposals to ensure that the economy is returned to a stable footing and that economic activity is expanded for job creation and growth.

“We would review our laws governing the extractive industry so that Ghana can increase its share and local participation in exploiting our natural resources.

”With improved revenues from the savings made from a reduced size of government, anti-corruption fight, fast-tracked operationalization of new oil and gas wells, increased investment in the mining sector and a revamped cocoa sector, we can ease the heavy burden of tax that has been placed on Ghanaian households and businesses.”