Government has in the past years introduced numerous taxes by way of raking in revenue for the state.
In recent times, three new bills; Income Tax Amendment Bill, Excise Duty Amendment Bill, and Growth and Sustainability Amendment Bill were passed in parliament.
But the trading community have bemoaned the negative impact of taxes on their businesses to the extent that the traffic at the ports has reduced drastically.
Speaking on this growing development on TV3’s Ghana Tonight show on Wednesday, April 5, 2023, the Executive Member of the Association of Ghana Industries (AGI), Tsonam Akpeloo, noted that local businesses may soon run out of business due to their unability to sustain the businesses.
He stressed that the taxes on businesses were too much.
Mr Akpeloo said it is unfair for businesses under AGI to remain tax compliant whiles other businesses keep evading taxes in the country.
“Very similar point to this is that there are many many businesses that are not paying taxes and so continuing to tax the few AGI companies that are tax compliant is not fair. What will happen is that very soon they may not even exist for you to tax because the taxes are just too much,” he said.
Mr Akpeloo called on the Ghana Revenue Authority to emulate the works of ECG by going out to collect property tax.