High taxes killing local industries - PPP

The Progressive People's Party said high taxes imposed by the government has the potential of killing "local industries and businesses."

In a press statement signed by the party's general secretary,Murtala Mohammed, the party said "These rampant increases in taxes and the imposition of taxes that have the potential of killing local industries and businesses by the NDC government are of utmost concern to us."

The statement comes on the heels of a strike action declared by the Ghana Union of Traders’ Association (GUTA) on Monday under the leadership of Joint Private Sector Business Consultative Forum to protest tax and utility hikes.

The party said it is the responsibility of government to create a conducive environment for small business to thrive by introducing "Tax incentives, protection against foreign firms, easy access to loans with low interest, restriction on importation of goods that can be manufactured locally."

"Amidst these increments, President John Mahama and his inconsiderate NDC government have imposed a 3% special levy on imports and also introduced the ECOWAS Common External Tariffs. Valued Added Tax (VAT) has been increased to 2.5% and insurance premiums to about 500%. We also understand that traders have to go through over 20 inspection institutions at the port before they can clear their goods. " the statement added.