The head of the Food and Beverage Association of Ghana (FABAG), John Awuni, has expressed worries about the detrimental impacts of high government taxes, which lead to the failure of private sector companies.
In an interview with Bernard Avle on Citi TV’s Point of View following the State of the Nation address, Mr. Awuni disclosed that a lot of companies are opting to relocate their operations to nearby nations as a proactive step to prevent failure.
Mr. Awuni highlighted the different taxes that are making the problems facing the private sector worse and voiced his displeasure with the amount of tax imposed on it.
He cited a number of examples, such as the COVID-19 levy, the carbon emissions levy, and the Growth and Sustainability Tax.
“The private sector faces a plethora of burdensome taxes, such as the Growth and Sustainability Tax, the Carbon Emissions Levy, the COVID-19 Levy, and numerous others.
“Because of our consistently high interest rates, inflation rates, and highly unstable currency, players are losing money every day. The high unemployment rate is a sign of the private sector’s poor performance.
People have devised many ways to keep their businesses afloat as a result of high taxes and the poor performance of the private sector. Most private sector participants have started realigning their businesses with their neighbors these days. The bulk of importers presently route their goods through Togo and Cote d’Ivoire, as our import data unmistakably shows.
