John Awuni, Executive Chairman of FABAG in a statement said the private sector has been buffeted by an array of different taxes, with overall tax levels constantly rising and that his association is ready to hear the position of the flagbearers of the various political parties on the taxes and policies that they have that will benefit his members and improve their businesses.
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We'll vote for whoever is ready to tackle 'killer' taxes — Food and Beverages Association
The Ghanaian Food and Beverage Association (FABAG) has indicated its readiness to back any presidential contender committed to addressing the organization's issues and challenges.
John Mahama, Alan Kyerematen and Dr Mahamudu Bawumia
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He said the private sector is disillusioned, with most players exploring investment options in neighbouring countries such as Togo and Cote d’Ivoire. Most businesses are seeing their working capital disappearing by the day.
The statement added that members of the association are encouraged to vote in the upcoming elections based on the taxes and policies each presidential aspirant will bring on board.
It said "Indeed, members of our association as well as our employees will be encouraged to vote based on how the various political parties commit to address the key concerns of the private sector. The sector is the engine of growth but currently, the engine is grinding to a halt. Business-friendly government policies which constitute fuel and lubricants of a healthy engine have gradually been replaced with business-killer policies. We would like to know how this engine will be re-ignited when a new administration takes power. How the sector will be revitalized needs to be clearly articulated and documented in manifestoes. Questions that beg the attention of those seeking the mandate of Ghanaians to govern are as follows: What will be the specific tax policies for imports, manufacturing, and the Service sector? How will they make the private sector genuinely profitable if given the mandate? At the moment, most players, including members of our apex association in the private sector feel unwelcomed by the government and viewed as though they are criminals for demanding a break from over-taxation. The attacks, mudslinging, and harassment are dispiriting. We don’t feel the backing and support of the State."
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Earlier, the Association said the three new taxes assented to by President Nana Addo Dankwa Akufo-Addo will kill the business community in Ghana.
On Monday, April 17, 2023, President Nana Addo Dankwa Akufo-Addo assented to law the three new tax bills recently passed by Parliament on Friday, March 31, 2023.
The three new taxes are the Excise Duty Amendment Bill 2022, the Growth and Sustainability Levy Bill, 2022, and the Income Tax Amendment Bill 2022.
Ghanaians have been reacting to the three new taxes introduced by the government.
Critics believe the bill will price lower-income people and small business owners out of the digital economy.
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The bills are expected to generate about GH¢4 billion annually.
The government said the tax bills will shore up revenue domestically and boost Ghana's fiscal position following the shocks of COVID-19 and the Russia-Ukraine war.
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