The current administration, according to the executive secretary of the Importers and Exporters Association, has fallen short of its pledge to move Ghana from taxes to industrialization.
Samson Awingobit claims that if no action is taken, more firms will fail because the government has taxed them out of existence.
According to Mr. Awingobit, businesses in Ghana are already having a hard time surviving, and now the government has approved a 2.5 percent increase in the value added tax.
He described the increment as insensitive to both businesses and consumers.
“We strongly believe that the government has been unjust to the business community,” he said. I can tell you with certainty that, since 2018, all of the promises they made to us have not been fulfilled. Their policies have derailed our businesses, eroded our interests, and impacted our capital.”
Samson Awingobit warned that in 2023, Ghanaians should be prepared to pay more for what they buy following the increase in the VAT.
He said, “if you want to know how this government has failed the community, just analyze this, never in the history of Ghana have businesses in Kumasi, and other parts of the country closed their shops in protest of an unfavourable business environment.”