Flagbearer of the New Patriotic Party (NPP), recently engaged in a dynamic dialogue with the Ghana Union of Traders’ Association (GUTA) in Accra.
The focal point of discussion was Dr. Bawumia‘s proposed tax reforms and his vision for the future of Ghana’s business landscape.
GUTA President Dr. Joseph Obeng Darko opened the forum, welcoming members to voice their concerns and suggestions directly to Dr. Bawumia and his team.
The atmosphere was characterized by a relaxed exchange as Dr. Bawumia encouraged open interaction with numerous GUTA members.
Praising Dr. Bawumia’s proposed tax reforms, particularly the flat tax rate and tax amnesty for businesses and individuals, Dr. Darko highlighted the potential for simplification and improved compliance.
He also raised issues such as harassment by tax officials under the current system, which Dr. Bawumia pledged to address comprehensively.
“We agree with your flat tax proposal because it will simplify things for us and our businesses.
“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 five years as you have proposed,” said the GUTA President.
In response, Dr. Bawumia reiterated his commitment to fostering a business-friendly environment, citing his research in Estonia on their successful flat rate tax system.
“In trying to find a solution to this, I went to Estonia, one of the most business-friendly countries in the world, to study their tax system and I discovered that the key for them is the flat rate tax system they have, which is clear, transparent and with a very high compliant rate.”
“This is what I want to introduce in Ghana, to make Ghana a business-friendly country and one of the most business-friendly nations in the world.”
He outlined a series of policy proposals aimed at reducing the complexity and cost of doing business in Ghana, including VAT reviews and measures to align port charges and import duties for greater stability.
“My major goal is to make Ghana one of the most business-friendly economies in the world.
“My government will be a business-centered government. I want, thus, to move quite a number of government expenditure to the private sector. When this happens, government’s expenditure will reduce and the private sector will also thrive,” Dr. Bawumia told the GUTA members.
The engagement with GUTA forms part of Dr. Bawumia’s broader initiative to engage stakeholders across sectors, showcasing his vision for a transformed economic landscape and garnering valuable feedback to refine his policies.
