The Ghana Union of Traders’ Association (GUTA) has welcomed 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.
According to GUTA, this move is a step in the right direction and will significantly boost their businesses.
Dr. Bawumia, as part of his government’s vision to boost businesses in Ghana, has announced plans to reform the current tax system. This includes granting tax amnesty and introducing a flat tax rate for individuals and businesses.
During an interactive session with Dr. Bawumia on Friday, April 5 in Accra, where the NPP Flagbearer elaborated on his vision for Ghana, GUTA President Dr. Joseph Obeng Darko expressed the Union’s support for 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 Dr. Obeng Darko.
GUTA members extensively discussed issues of concern and made suggestions to Dr. Bawumia during the interactive session. Dr. Bawumia, in response, assured them of his commitment to working together to ensure a more conducive business environment under his government.
He emphasized that his proposed tax reforms have been well-thought through to ensure Ghana replicates the best, business-friendly tax system. Dr. Bawumia reiterated his commitment to immediately implementing his proposed tax reforms, including granting businesses tax amnesty and introducing a more friendly flat tax rate.
Furthermore, Dr. Bawumia assured GUTA of his commitment to implementing other aspects of his tax reforms, such as introducing a flat duty on containers for spare parts and benchmarking Ghana’s import duty with that of Togo, to curb smuggling.
