Business

NPP opposed Withholding Tax because it will kill businesses – Kyei-Mensah-Bonsu

Osei Kyei-Mensah-Bonsu
Osei Kyei-Mensah-Bonsu

The Member of Parliament for Suame Constituency and Minority Leader of Parliament Osei Kyei-Mensah-Bonsu has revealed that the Minority knew from day one that the Withholding Tax approved by Parliament will destroy businesses in Ghana.

He noted that the Minority were not able to do much about the bill because as usual, the government and the majority always had their way even when the Minority disagrees with a bill.

The Member of Parliament for Suame has been accused by members of the Progressive Scrap Dealers Association (PSDA) of Suame Magazine in Kumasi in the Ashanti Region of failing to fight on their behalf regarding the 3 percent Withholding tax imposed on their business.

A withholding tax, also called a retention tax, is a government requirement for the payer of an item of income to withhold or deduct tax from the payment, and pay that tax to the government.

Speaking on Yensempa morning show on Onua FM hosted by Bright Akwasi Asempa, Kyei-Mensah-Bonsu said the official record of parliament shows the resistance of the minority against the Withholding Tax when the Finance Minister Seth Terkper presented it to the house.

He remarked that as a product of the Suame Magazine, he cannot ignore their plight, but noted that the issue at stake was bigger than what one person can surmount.

To avert plans to vote against him by the Association, the MP promised to meet them in order to bring rest to their concerns.

By Owoahene  Omari Acheampong  | Onua FM |3news.com

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