Businesses adopting strategies to lessen tax obligations – PEF CEO

Nana Osei Bonsu, Chief Executive of the Private Enterprise Federation (PEF), has revealed that many businesses in Ghana are adopting strategies to reduce their tax liabilities due to high tax rates, multiple levies, and harassment from tax authorities.

Speaking on PM Express Business Edition, he disclosed that a PEF survey showed most businesses were unwilling to pay taxes under current conditions.

He suggested that lowering and staggering taxes could improve compliance and advised the government to consider business profitability before imposing taxes.

Bonsu criticised policy makers' inaccessibility and emphasised the need for an enabling environment for business expansion.