Businesses in the country are being advised to strategize new ways to stay afloat.
Professor John Gatsi, dean of the Cape Coast Business School, said this in reference to the three additional levies that have been proposed and are currently before Parliament for approval.
According to the Professor, the three taxes form part of an IMF bailout conditionality without considering their impact on business.
Although the Ghana Union of Traders’ Union, GUTA, is opposing the increased taxes, he emphasizes that the government and Parliament should make the final decision.
According to him, the administration ought to have thought things through before taking such a step.
” These reviews are only meant to fulfil the precondition set by the IMF so that we can have an IMF program.
It has no consideration to create an environment that is conducive for businesses, they have no consideration to lower the burden the businesses are going through, they have no consideration as to how many businesses are folding up. So that is why, I believe the GUTA and Co are kicking against those taxes.
It’s a choice for the government and Parliamentarians to listen or go ahead to approve or not.
I think the government just feels like the IMF deal is the final deal they ought to do, and there’s nothing else to be done, ” He said.
” There should be a balance between the quest to get an IMF program and creating a conducive environment for businesses to strive to protect businesses to deliver,” Professor Gatsi explained.
