The President of the Ghana Union of Traders Association (GUTA), Dr Joseph Kweku Obeng, has criticized the three new taxes being considered by Parliament.
The taxes include the Income Tax (Amendment) Bill, Excise Duty and Excise Tax Stamp (Amendment) Bills, and the Growth and Sustainability Levy Bill.
According to Dr Obeng, the re-introduction of these taxes that were previously scrapped in 2017 will put an additional burden on the already struggling business community.
He suggested that the government widen the tax net and review policies on tax exemptions, warehousing, and free zones instead of burdening traders with new taxes.
Dr Obeng argued that the new taxes would suppress local productivity, hindering the government’s efforts to enhance local productivity.
He also stated that only a few traders currently pay taxes, and the new taxes would overburden them.