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Tough times ahead: 3 new taxes will lead to massive job cuts — TUC

The Trades Union Congress (TUC) has expressed disappointment with the approval of the government's three new revenue tax bills.

Trade Union Congress

Parliament on Friday, March 31, 2023, passed all three revenue bills, the Excise Duty Amendment Bill 2022, the Growth and Sustainability Levy Bill, 2022, the Ghana Revenue Authority Bill 2022, and the Income Tax Amendment Bill 2022.

Ghanaians have been reacting to the three new taxes introduced by the government.

The Trades Union Congress adding its voice to the new taxes said it is disappointing and allayed the fear of more workers being laid off.

The Deputy Secretary-General, Joshua Ansah said the new taxes will impoverish ordinary Ghanaians and lead to massive job cuts.

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"The increase in taxes has its own positives and negatives. The negative effect of taxes is that manufacturers and companies who produce locally are to reduce employment when the tax burden is too much. Employers are going to lay off workers if they are unable to meet their income as against their expenditure," he said.

Meanwhile, the Food and Beverages Association of Ghana (FABAG) has also expressed disappointment with the three new revenue tax bills.

The spokesperson for the Food and Beverages Association, John Awuni said it is disappointing that Ghana’s lawmakers disregarded the cry and agitations of the people and went ahead to have the bills approved.

"We feel very disappointed that the three tax bills were passed by the Parliament of Ghana, especially supported by the NPP MPs when no one was consulted on the new bills. We are disappointed in this action and the MPs must realize that they are representing the people of Ghana and not themselves," he said.

He indicated that the Association petitioned Parliament but the lawmakers disregarded it and went ahead to pass the bill.

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