Source: newsthemegh.com/Dr. Mahamudu Bawumia
Dr. Mahamudu Bawumia met with a variety of importers and market traders in Accra yesterday to talk about difficulties impacting their companies and future directions.
Dr. Bawumia used the highly productive meeting to present the new measures he had suggested to enhance Ghana’s business climate.
Among these new policies are:
1. A flat tax regime for all businesses and individuals to make the system transparent and enhance compliance as exists in Estonia.
2. A Tax amnesty to be implemented in 2025 for all individuals and businesses to eliminate tax liabilities up to a certain year.
3. A flat tax import duty system at the ports for containers of various goods in cedis to make import duties predictable for traders and avoid persistent increases in prices by traders in anticipation of higher import duties.
4. Benchmarking import duties in Ghana to duties at the Lome Port such that Ghana’s import duties will not be higher than what exists in Togo
5. Implement a policy of Faceless Audits by GRA by relying on technology
6. Abolishing the practice of invigilation by GRA where tax officers sit in shops (sometimes for months) to observe sales of traders.
My proposals were received with so much excitement by the traders and I am encouraged by their support.
It is Possible!
