Ghana Union of Traders Association (GUTA) has made a significant decision to establish a social contract with all presidential candidates competing in the upcoming 2024 presidential election.
This proactive step aims to ensure accountability from the candidates and demand transparency should any of them ascend to the presidency.
Dr. Joseph Obeng, the President of GUTA, emphasised the need for accountability, highlighting past instances where politicians made unchecked claims without facing consequences.
Speaking to Rainbowradioonline.com during an event organized by the New Patriotic Party on Wednesday, February 7, 2024, where Vice President Dr. Bawunia outlined his policies and vision for Ghana, Dr. Obeng expressed GUTA’s intention to engage with all presidential aspirants regarding their policies, particularly those affecting the business community.
He stressed the importance of tax compliance as a longstanding concern for GUTA, emphasising the necessity of affordable tax systems and broadening the tax base to ensure more individuals fulfil their tax obligations.
Dr. Obeng applauded Dr. Bawumia’s proposal to implement a flat tax regime, citing its potential to facilitate compliance among those in the informal sector. This, he believes, presents a promising opportunity for enhanced tax compliance and economic growth.
He maintained that “meeting with the parties was crucial and that is why we have written to all the parties that we have opened our doors to meet all of them so they will factor in inputs into their manifestos because every political party is a potential winner in the 2024 presidential election. So we have a responsibility to present to them our input so that when they win the elections, they will implement it to help the country develop.
Meanwhile, he has stressed that the flat rate announced by the Vice President is doable, referencing that we have done a flat rate of 3 percent in the past and were able to achieve our targets.
“It is achievable and will help the government. If the taxes we pay are not affordable, it does not ensure compliance.”