The Ghana Union of Traders’ Association (GUTA) says the proposal by the Flagbearer of the New Patriotic Party (NPP), Dr. Mahamudu Bawumia, to implement a new flat tax regime along with a tax amnesty is a step in the right direction, which the Union says, will significantly boost their businesses to grow.
As part of his government’s vision to boost businesses in Ghana, Dr. Bawunia has announced he will reform the current tax system, including granting tax amnesty and introducing a flat tax rate for individuals and businesses.
At an interactive session with Dr. Bawumia on Friday, April 5 in Accra, where the NPP Flagbearer threw more light on his vision for Ghana, GUTA President Dr. Joseph Obeng Darko, speaking on behalf the Union, welcomed Dr. Bawumia’s tax reform proposal.
“We agree with your flat tax proposal because it will simplify things for us and help our businesses to grow,” said the GUTA President.
“The reason why we like the tax amnesty and flat tax rate policy is that if you give us the amnesty and the flat tax rate, it will help our businesses.
“It means that we are going to do the right thing, which will be benchmarked against the next 5 years as you have proposed.
“This is the best thing you could have given us,” Dr. Obeng Darko added
“We are not politicians but we are rational human beings and businessmen and women.”
As part of the interactive session with Dr. Bawumia, members of GUTA discussed extensively, issues of concern to them and also made suggestions for the consideration of the Vice President.
Dr. Bawumia also took time to respond to every issue and suggestion GUTA made and assured them of his commitment to working together with them, to ensure a more conducive business environment under his government.
The NPP flagbearer said his proposed tax reforms have been well-thought through to ensure Ghana replicates the best, business-friendly tax system to help businesses grow.
He reiterated his commitment to immediately implementing his proposed tax reforms, and grant businesses tax amnesty and also introduce a more friendly flat tax rate for businesses.
He also assured GUTA of his commitment to implementing other aspects of his tax reforms, such as introducing a flat duty on containers for spare parts, as well as benchmarking Ghana’s import duty with that of Togo, to curb smuggling.