Deputy Finance Minister in charge of Revenue, Dr. Alex Ampaabeng, has revealed that the government is in the process of reviewing various tax handles to enhance Ghana’s business and investment climate.
He explained that this initiative aims to ensure that Ghana remains a prime investment destination for offshore investors.
Recognizing investors’ concerns regarding the complex tax structure, Dr. Ampaabeng stated that the government will work closely with the Ghana Revenue Authority (GRA) to revamp the tax system.
Addressing attendees at the Ghana Investment Promotion Centre’s Quarter 3 Ghana Club 100 CEOs breakfast meeting and the launch of the 21st Ghana Club 100 Awards, he emphasized the need for strategic collaboration among all sector stakeholders to drive sustained economic growth.
“Looking forward, several initiatives are in motion to further improve our investment climate. We believe that a robust partnership between the private and public sectors can accelerate economic growth and foster sustainable development. The finance minister is dedicated to improving Ghana’s economy and refining the tax system,” he stated.
“In our collaboration with the Ghana Revenue Authority, we are not only focusing on streamlining and revising administrative processes related to the tax structure but also on reviewing various tax handles within the country,” Dr. Ampaabeng added.
Yofi Grant, the Chief Executive Officer of GIPC, highlighted the potential for growth and investment amidst current challenges, saying, “For me, trying times present opportunities for several reasons.”
He observed that the aftermath of the pandemic and the ongoing Russian-Ukrainian conflict has prompted many countries to seek new opportunities and locations for operation.
Acknowledging these global shifts, Mr. Grant noted that they have created emerging opportunities for Africa, particularly Ghana.