Policy analyst, Peter Tekper has criticized certain policies proposed by the New Patriotic Party (NPP) flagbearer, stating that they are not focused on benefiting industry.
In a national address in Accra on February 7, Dr. Mahamudu Bawumia announced that Ghana would adopt a new “friendly” flat tax regime if he is elected President.
The NPP flagbearer emphasized the importance of reforming the tax system to support businesses, particularly small and medium enterprises (SMEs). He highlighted the need to create a tax structure that favors the business community and encourages compliance with the new, business-friendly taxes.
But speaking on JoyNews’ The Pulse on August 19, Mr Tekper said even after introducing these policies since the economic environment is not conducive for businesses, it will make no positive impact.
“If you don’t deliberately bring a policy, that will have a homegrown solution in terms of developing businesses locally to generate revenue, you are still going to be an import-dependent economy.
“If you look at the solutions that are being professed, yes, we need more tax revenues, business are struggling now. Look at it for instance, look at the VAT rate system is very expensive and so businesses are struggling.
“High taxes at the port so even if someone is bringing raw materials there are categories, there are taxes that are still been paid.”
In light of this, he stressed that “These policies are not targeting industries such that it will help Ghanaian businesses to be able to compete very well,” he added.