Tax expert and consultant, Dr. Abdallah Ali-Nakyea holds the view that many levies in Ghana ought to be repealed.
For him, the continuous introduction of levies affects the economy negatively.
In a radio interview with Accra based Citi FM on Thursday, (March 30, 2023), Dr Ali-Nakyea, expressed concern at the rate at which new taxes are introduced every other time in the country and said it was problematic.
He said excessive taxes create a situation that affect employment as well as production.
He said instead of the government focusing so much on tax introduction, there was the need to cut down on expenditure.
For Dr Ali-Nakyea, government should not be too motivated in introducing more taxes as part of a move to appear good in the eyes of the International Monetary Fund (IMF).
Three bills namely the Income Tax Amendment Act, the Excise Duty Amendment Act, and the Growth and Sustainability Act are currently before Parliament, with the government hoping to generate approximately GH¢4 billion per year if the bills pass.
The government fears failing to pass the new tax bills on Friday will jeopardize Ghana’s chances of a quick economic recovery and board approval for an IMF bailout (IMF).
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