Some business owners in Kumasi have urged the government to implement more environmentally friendly and business-friendly tax laws that will aid in the government’s optimal revenue mobilization while promoting business expansion.
The Ghana Revenue Authority’s (GRA) present Value Added Tax (VAT) policy, in their opinion, “does not support our system.”
“Our market’s characteristics are not supported by the tax structure and administration.” “The policy imposed taxation for each item as it passes along the distribution route,” said Charles Kusi Appiah-Kubi, Executive Secretary of the Ashanti Business Community, at a media event in Kumasi yesterday (October 12, 2022).
He claimed that the current method, in which the tax was applied to every single item along the distribution chain, increased the cost of things and put them out of reach of people.
Mr. Appiah-Kubi advocated for the government to collect all taxes at the point where goods enter the nation, freeing people involved in the value chain from fear of intimidation and retaliation.
He claimed that the current approach, in which the identical item is charged from the primary distributor down to the final customer, overburdens the consumer and drives up the price of items.
According to him, the tax should only be collected once at the point of entry, which may be at the ports or the factories, allowing the firms to operate without restriction.
“The government ought to receive all of its funding from the points of entry. Take all the fees you want to collect at the manufacture or point of entrance and don’t bother us, he replied.
He said, “Government must understand us and take into account the current economic crisis hitting individuals as a whole. We are ready to pay our corporate income tax and our Pay As You Earn (PAYE), but we can’t pay the VAT again.
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