Businesses in Ghana are struggling under the weight of high taxes, according to Mark Badu-Aboagye, CEO of the Ghana Chamber of Commerce and Industry (GNCCI).
During an appearance on Joy News’ PM Express Business Edition, Badu-Aboagye described the current tax regime as “suffocating,” particularly in light of new taxes introduced under the International Monetary Fund (IMF) program.
“All the excise duties and taxes brought in because of the IMF program are suffocating businesses. Nothing has changed,” Badu-Aboagye lamented.
He added that while the Ghana Revenue Authority (GRA) has become more consultative in its approach, the overall tax structure remains punitive.
“If a presidential candidate promises to remove e-levy, it’s because they know it’s a nuisance tax. It’s not generating the needed revenue, but its negative impact on businesses is huge,” he stated.
Badu-Aboagye criticized the multiplicity and complexity of taxes, pointing out the unique structure of the VAT system in …