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    Encourage China to support Ghana’s debt restructuring – Akufo-Addo to Germany

    Government to securitize $3.3bn in Central Bank loans

    Ghana withdraws $672m back-tax demand from MTN Group

    Come clean on gold-for-oil ‘fiasco’ – COPEC to govt

    Ghana paid cash for 40,000 tons of oil instead of gold – Egyapa Mercer confirms

    Deadline for debt exchange program moved to February 7 with new terms

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    Gold-for-oil: Govt spent $40m on first consignment – NPA

    Come clean on gold-for-oil ‘fiasco’ – COPEC to govt

    Ghana paid cash for 40,000 tons of oil instead of gold – Egyapa Mercer confirms

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Government and Association of Banks reach agreement on DDEP

    DDE: Banks secure 5% coupon for 2023; other revisions

    Cocoa bill payment; BoG, COCOBOD others agree to roll over maturing investments

    AfriCatalyst to host conference on use of Special Drawing Rights to accelerate economic transformation

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    Huawei Equips 500 Traders in FinTech

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    What does 2023 hold? Predictions in payments for the year ahead for Africa

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    Nigeria’s national debt hits an all time as the country struggles with repayment

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Nigeria set to stop importation of refined oil and refine its own oil by 2023

    EIU analysts forecast grim economic outlook for Africa in 2023

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GUTA to resist common external tariffs, other taxes

bycitibusinessnews
February 2, 2016
in Transport
President of GUTA, George Ofori

President of GUTA, George Ofori

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The Ghana Union of Traders Association (GUTA) has threatened to hit the streets, following the adoption and introduction of the ECOWAS Common External Tariffs (CET).

According to GUTA, the new law is unfair.

GUTA’s threats follow the implementation of the Common External Tariff, which took effect on Monday, February 1, 2016.

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CET is to harmonize tariffs being charged in the ECOWAS sub-region.

Speaking at a news conference on Tuesday, President of GUTA, George Ofori, said government will render traders bankrupt with the implementation of CET, and said Parliament must revise the new tariff to save their businesses.

“We are paying all these taxes that have been mentioned, then you ask yourself; do we deserve an additional tax in the name of harmonization? Absolutely no!” he said.

Mr. Ofori further stated that government has no regard for the views and plight of stakeholders thus, the reason why they are insensitive to their pleas.

According to him, this new law is a horrific government policy and warned that any attempt to impose the tariffs on them will result in a stiff resistance from them.

Some members of the union in an interview with Citi Business News expressed their dissatisfaction on the new common external tariffs, adding that government will eventually cripple their businesses if nothing is done about it.

According to them, they currently incur more losses with less profit.

They criticized government for turning blind eye to foreigners who have invaded the local trading market and yet are not paying taxes.

“All these foreigners come to trade here for free. Then the government puts all the taxes on us. The taxes are too much. If they cannot deal with these foreigners, maybe we should take it upon ourselves to do that”.

The visibly angry traders called on government to reduce the tax increases and help save their businesses.

—

By: Jessica Ayorkor Aryee/citibusinessnew.com/Ghana

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