The Food and Beverages Association, FABAG is urging the government to broaden the tax net to rope in more people to increase revenue.
President of FABAG, Sam Aggrey speaking to journalists says high taxes are birching businesses and continuous increases will mean companies will pass on costs to consumers to bear or suffer the consequences of collapse.
” Anything that you pass on to the investor means that the investor will then have to pass on the cost to the consumer.”
He explained that the high duties and taxes have led to a reduction in freight movement at the port.
Mr Aggrey says the government’s reduction in expenditure could save the country’s economy.
He however noted that raising taxes cannot guarantee a country’s development.
” Raising taxes always does not mean a country will develop. A country when we lose our manufacturing sector means that the country is a dead country,” He said.
