The Member of Parliament for Buem Constituency in the Oti Region, Kofi Adams says the structure of Ghana’s taxes and the implementation of the same is a threat to the survival of businesses.
According to him, the businesses are overburdened with taxes, which makes it very difficult for them to expand.
Speaking in an interview, Kofi Adams says some of the taxes are not necessary and can be classified as nuisance taxes.
He further explained that those taxes were brought in purposely to solve a specific problem like the COVID tax.
He explained that this tax has accomplished what it was set up for and must be scrapped.
Kofi Adams suggests that the government should trim its ministerial positions to achieve cost savings.
Kofi Adams further explained that businesses are facing collapse as a result of the burdensome taxes imposed on them.
Therefore, Kofi Adams urges the Minister of Finance to thoroughly examine the taxation issue.
He specifically calls for a refrain from introducing new taxes and requested that it will be better they take off some of the existing taxes.
Kofi Adams emphasizes the importance of realigning the tax structure in a manner that fosters business expansion.
He contends that by facilitating the growth of businesses, there will be a subsequent increase in job opportunities within the country.
By: Mubarak Yakubu