• Business

    3 new tax laws: We’ve been disrespected – GUTA angry with gov’t

    The business community says it feels disrespected by the government after president Akufo-Addo appended his signature to the three new tax bills passed by parliament making them laws.

    They are the Excise Duty Amendment Bill 2022, the Growth and Sustainability Levy Bill, 2022; and the Income Tax Amendment Bill 2022.

    The bills are expected to rake in GH¢4 billion for the country annually.

    Their passage, among other measures, was critical to Ghana clinching an IMF board approval for the US$3 billion extended credit facility.

    However, the Ghana Union of Traders Association (GUTA) which kicked against the introduction of taxes with the explanation that it will increase the cost of doing business and collapse businesses have expressed disappointment in the government for the move.

    Speaking on 505 on Class91.3FM on Monday, 17 April 2023, President of GUTA, Dr. Joseph Obeng noted that the business community have been disrespected despite their petition to the President not to sign the bills into law.

    He said: “We have been disrespected, the business community, the norm has been that if a new tax is coming, we all sit down, build a consensus and then we accept it and own it as Ghanaians but you don’t impose any tax on us as its been done now, it is very unfortunate, we are being sent to the slaughter house and somebody needs to be told.”

    “We cannot accept this, this is not fair to us, we’ve sent a petition and at least they should have even replied the petition, we haven’t gotten the reply, what kind of democracy are we practicing,” he quizzed.

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