The New Patriotic Party (NPP) flagbearer, Dr. Mahamudu Bawumia, has presented his vision for a simplified and business-friendly tax system designed to enhance job creation and stimulate economic growth.
Speaking to young Ghanaians nationwide on Sunday, November 3, Dr. Bawumia committed to introducing a tax regime that is accessible, equitable, and efficient, aimed at reducing the bureaucratic hurdles that often hinder the growth of the private sector.
According to Bawumia, the proposed tax reforms are intended to strengthen Ghana’s private sector, which he views as a crucial contributor to job creation and economic stability.
“To support the private sector in creating jobs, I will implement a tax regime that is easy to understand, simple to comply with, and straightforward to enforce, minimizing discretionary powers,” he stated.
As part of his initiative to revitalize the tax system, Dr. Bawumia announced a tax amnesty program to provide businesses with a fresh start.
By streamlining the tax system and offering amnesty, Bawumia aims to enhance compliance, expand the tax base, and foster an environment where businesses can thrive without facing excessive tax burdens.
“To start the new tax system on a clean slate, my government will provide a tax amnesty that is a complete exemption from the payment of taxes for a specified period and waving of interests and penalties up to a certain year to individuals and businesses to file taxes in previous years so that everyone will start afresh. So, a tax amnesty is coming for our businesses,” he stated.
