The Association of Ghana Industries (AGI), has disclosed of an audacious exercise to demand reduction in taxes for its members.
President of the AGI, James Asare Adjei maintains the outfit it is dissatisfied with the introduction of taxes without recourse to its members on the adverse impact on their businesses.
“This year, businesses were subjected to new taxes without any consultations; AGI and its members are not happy with the development and have therefore engaged the Ministry of Finance on this subject matter extensively,” he stressed.
The AGI has among other things expressed its displeasure over some tax obligations expected of its members.
Notable among them is the 17.5% VAT, 3% VAT Flat rate as well as some port charges.
The industries have also complained about the fact that not only have the development increased their cost of operations, the high tax regime has also made them less competitive compared to their peers across the region and around the globe.
Mr. Asare Adjei who was speaking at the AGI’s 56th Annual General Meeting in Kumasi on Wednesday buy accutane paypal however indicated of a study to assess the various taxes and their impact on businesses.
“With the support of BUSAC fund, we have engaged a consultant to conduct an extensive study on the tax regime relating to the private sector; the study will give comprehensive information about the various taxes and recommend the ones that require reforms.”
The AGI President added that he is confident the outcome of the study will propel further discussions on a reduction or possible elimination of certain taxes, industries consider inimical to their operations.
“The economic affairs committee of AGI will also engage the appropriate ministries when the report is ready and inform members of the AGI accordingly,” he opined.
Meanwhile the AGI boss has commended the Ministry of Trade and Industry for its efforts towards the Made in Ghana Policy as it has benefitted its members.
He was however quick to urge his fellow members to “take advantage of the opportunities even though he admits there is still more work to be done.”
By: Pius Amihere Eduku/citibusinessnews.com/Ghana