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Let’s find a sensible middle ground – Govt to businesses opposing new tax bills

The administration says it is open to negotiations with the business community opposing the new tax revenue proposals currently before Parliament.

It follows several appeals from industry players for the government to cancel the tax bills owing to the possible impact on business operations.

However, in response to these concerns, Information Minister, Kojo Oppong Nkrumah remarked that the government is open to take comments aimed at revising the laws in the interests of policymakers and the business community.

“We have to contextualize the pushbacks. It is good that all of these groups are expressing their individual challenges with these three revenue proposals. I think that we must encourage people to come with these particular and perhaps what adjustments they want to see done to make it more bearable”, he said on the Point of View on Citi TV.

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Government is under pressure to have three new revenue bills passed by parliament as it tries to rake in GHS 4 billion each year to shore up revenue to restore the ailing economy and secure a Board approval for a bailout from the International Monetary Fund (IMF).

The bills which include the Excise Tax Stamp and Excise Duty modification bills, Income Tax amendment bill and Growth and Sustainability levy bill are already being opposed by several industry groups.

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The Ghana Union Traders Association (GUTA) and the Association of Ghana Industries (AGI) among others have for instance requested Parliament not to pass these “killer taxes; bills because business risk collapsing as a result”.

Nonetheless, the government is making it clear to the business community that it must make some compromises given the difficulties facing the nation’s economy.

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“At the end of the day, we have to get something as a Republic that allows us to move forward in this enterprise and see what both sides can accommodate. So that in the end, we can find some sensible middle ground that allows us to pass these three revenue bills which have already committed to the initial economic program for 2023 and close these gaps we have and go forward to conclude both the external creditors assurances and the Fund program itself as quickly as possible”, Kojo Oppong Nkrumah added.

Agblor Courage

I am Courage Agblor, a writer, web designer, and publisher with a passion for education, culture, and truth. As a graduate with a bachelor's degree in education, I am dedicated to sharing knowledge that informs, inspires, and preserves the rich heritage of the Ewe people.

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