Tax Reforms: Women Importers Laud Bawumia For His Tax Amnesty, Flat Duty Rate | Business News

Ghanaian importers of various products have applauded NPP flagbearer, Dr. Mahamudu Bawumia for his proposal to grant businesses tax amnesty as well as introduce a flat duty rate in cedis under his government.

Dr. Bawumia, as part of his major policies to transform the country, announced a major overhaul of the present tax regime and import duties charged in US dollars.

At a meeting in Accra with a group of women importers, Dr. Bawumia reiterated his commitment to implementing these policies and his address was welcome with delight from the audience.

Dr. Bawumia stressed the present tax regime is unfavorable to businesses due to its cumbersome nature, hence bringing a policy that will eradicate this problem. 

“The present tax system is confusing and traders even find it difficult to calculate what they have to pay…Also, as you have just confirmed, many traders complain of harassment from tax officials which should not be the case. People who are already paying taxes should not be regularly harassed”, Dr. Bawumia said.

“I am bringing a new policy, if you help me to be President, to make the tax system very simple, transparent and easy to calculate”, he pledged, adding “to kick off the new tax regime I will be introducing in 2025, by the grace of God, I will grant tax amnesty to businesses so that we start on a fresh note to help businesses”. 

He continued; “I have also realized that charging import duties in US dollars affect traders due to exchange rate fluctuations. Our import duties are also higher than our neighbors in Togo; so many people smuggle goods from Togo. Another new thing I want to bring is that I will introduce a flat duty on containers which will be charged in cedis. This will ensure predictability and also significantly reduce import duties as we will not go higher than Togo.” 

Dr. Bawumia explained to the traders that he has done careful examination of the present situation and its negative impact on businesses and revenue mobilization and therefore expressed optimism that his policies are bold solutions to help importers and traders.

He urged them to support his bid to the Presidency to enable him implement these policies and many more to advance Ghana’s development.

The audience applauded Dr. Bawumia over his vision and offered prayers  for him. 

The women importers are the latest trade group to welcome Dr. Bawumia’s tax reforms; several groups including GUTA and spare parts dealers have equally endorsed the NPP presidential candidate’s policies.