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GUTA continues to engage government to review new taxes during 2023 mid-year budget review

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Ghanaian business owners are continuing their fight against the three new taxes recently introduced by the government, despite the Ghana Revenue Authority beginning implementation this week.

The new taxes, which include the Growth and Sustainability Levy, Excise Duty Amendment Bill, and Income Tax Amendment Act, were created to replace outdated taxes in the system. The Ghana Union of Traders Association (GUTA) is still calling for the government to engage with the business community to find alternative solutions that can raise revenue without the need for the new taxes. GUTA plans to push for a review of the taxes during the 2023 Mid-year Budget Review.

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While some members of the public have expressed their displeasure over the new taxes, business owners are now being forced to pass on the cost to their customers. The chairman of the newly-elected Abossey Okai Spare Parts Dealers Association, Henry Okyere Jnr, has pledged to focus on decongesting the area and improving traffic flow for customers.

The Ghanaian business community continues to advocate for the removal of the new taxes as they believe they will negatively impact their businesses. For the most part, they are asking the government to find alternative ways of raising revenue that do not put additional financial burden on businesses.

Despite the GRA implementing two of the new taxes, business owners are still hopeful that their concerns will be heard and the taxes will be reviewed during the 2023 Mid-year Budget Review.

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