The Association of Ghana Industries (AGI) has called on President John Mahama’s administration to act quickly on its promise to simplify the country’s tax system through a comprehensive tax reform.
The AGI believes such reforms are essential for alleviating the financial strain on businesses and building industrial growth through effective tax reform.
Manufacturers have faced significant hurdles due to complex tax policies that hinder efficiency and expansion. The AGI emphasized that addressing these issues through tax reform is critical to supporting the government’s vision of a 24-hour economy.
The Greater Accra Regional Chairman of the AGI, Tsonam Akpeloo, emphasized the need for a rationalized tax regime to ease financial burdens on businesses, noting that comprehensive tax reforms would boost growth, enhance competitiveness, and attract investment to drive economic recovery through tax reform.
“Our view is that this year should remain a year that would witness a proper cancellation of some of these nuisance taxes. And if we see that happen, you would begin to witness a situation where industry, especially the manufacturing component of industry, will grow tremendously.
“If you observed last year, even though there appeared to be an increment in the GDP growth rate of the industry, the real manufacturing sector is not growing,” he stated in an interview on a local radio station.
Tsonam also expressed confidence that President Mahama’s leadership will address the concerns of the business community with a solid tax reform, implementing policies aimed at advancing industrial development.
“The manufacturing sector is not growing because most of these taxes and other factors are making it difficult for us to grow. And so we want a situation where the issues are properly dealt with this year, especially to ensure that the government will essentially promise a 24-hour economy, will really take some of these bold steps to promote proper industrialization,” he added.
