The business community want a review on the passage of three new taxes by government
The Ghana Joint Business Consultative Forum has reiterated its stance against the introduction of three new taxes introduced by the government.
This comes after the members of the Forum, who are made up of key associations within the business community, held a meeting on Thursday, April 20, 2023, to express their displeasure against the passage of the revenue bills.
Information Minister, Kojo Oppong-Nkrumah April 16, 2023, confirmed that the President has signed the three revenue bills into law for implementation.
They are the Excise Duty Amendment Bill 2022; Growth and Sustainability Levy Bill, 2022; Ghana Revenue Authority Bill 2022 and the Income Tax Amendment Bill 2022.
But the Ghana Joint Business Consultative Forum in a statement sighted by GhanaWeb Business said it remains resolute in its position against these taxes adding that, they are not only obnoxious but also inimical, and counterproductive which will result in the collapse of businesses in the country.
“We are already in a toxic business environment which needs to be fixed, rather than compounding the problems with the introduction of new killer taxes,” the statement said.
It continued, “The forum will not relent until the right things are done to improve the business environment and protect business in Ghana”.
The Forum however said it is hopeful that President Nana Addo Dankwa Akufo-Addo will heed to concerns of members within the business community and engage stakeholders towards a review of the new taxes.
This, they believe will help ensure a stable business community can thrive and remain competitive in a conducive environment.
Meanwhile, the government insists that the three new taxes form part of efforts to raise GH¢4 billion annually in domestic revenue mobilisation.
They are also crucial to help secure Board Approval for the US$3 billion International Monetary Fund (IMF) Programme after a staff-level agreement was reached in December 2022.
Watch the latest edition of BizTech and Biz Headlines below:
The business community want a review on the passage of three new taxes by government
