"There is now a reduction inproduction and gargantuan taxes" - Mahama criticized thegovernment
Former President John Dramani Mahama has called out the ruling New Patriotic Party (NPP) government for failing to fulfill its campaign promises to tax shops and increase production.
Speaking at the 7th Ghana CEO Summit at the Expo in Accra on Monday, May 22, 2023, he said excessive corporate taxes have caused some businesses to close, while others have movedto neighboring countries. Mr.Mahama said, "Having family and friends who own businesses, I know about endless tax audits that go back years and years. The call comes before EOCO (a crime branch economic and organized), harassment related to social security payments, many fees and charges for customs clearance of imports and exports at ports, etc. “Indeed, many of you today are using Lomé port for free to import your goods and go withthem to Ghana because of the many bills and fees we have at our port. In any case, can someone tell me what happened to the famous mantra, and I say "through taxes and production?" There wereproduction cuts and gargantuan taxes.
Mahama said that despite the tax the government has given tobusinesses, the nature of the government program and the International Monetary Fund (IMF) will ensure that many other businesses face challenges in the future. He said that not only has the government failed to increase production and support businesses, but it has also caused Ghana to lose its position as the best place to do business in West Africa. Mr. Mahama rebukedgovernment officials for lying to Ghanaians on "fiscal and fiscal data" about the state of the economy last year, only to go to the IMF to ask for a bailout. “The recently imposed high tax rates and the government's agreement with the IMF to waive most of the VAT and job cuts are creating a difficult situation for businesses that have decided to stay in Ghana despite the poor economic conditions. the beauty of this administration.
"Government's agreement with the fund to improve electricity and water bills every minutecreates another burden. And let's face it as business leaders,you know that Ghana has lost itsplace as the best place to do business. in West Africa. The flowers that inspired you to start your business in Ghana are slowly diminishing,” he said.
Mr. Mahama promised that if elected, his government will ensure good relations with the private sector, both domestic and foreign, for sustainable growth, to unlock the potential of the private sector to participate in Ghana's economic growth. "I don't see private enterprise as a way to pay our taxes," he said.
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