Alan Kyerematen, the Founder and Leader of the Movement for Change, has set forth a promising proposal to eliminate certain taxes on imports that he deems unnecessary and burdensome for traders. This initiative is aimed at easing the financial strain faced by the trading community in Ghana.
During a meeting with members of the Ghana Union of Traders Association (GUTA), Mr Kyerematen highlighted his plans to abolish these taxes and levies. He believes that by doing so, Ghana will emerge as the country with the lowest tax regime within the ECOWAS subregion. This strategic move is expected to create a more favorable environment for trade and investment, ultimately fostering economic growth and development.
Mr Kyerematen’s commitment to addressing traders’ concerns and creating conducive conditions for business operations in Ghana is evident in this pledge. By eliminating these taxes, he aims to lower the cost of doing business, boost trade activities, and enhance Ghana’s economic competitiveness within the regional context.
“I will ensure a recalibration of the existing tax regime structure to optimize revenue mobilization from direct taxes (personal and corporate), and reduce over-reliance on indirect taxes (import duties, levies, and charges) to make the corporate sector more competitive and profitable,” stated Mr Kyerematen.
Under his leadership, Ghana is poised to have the lowest tax rate regime in ECOWAS, reflecting his vision for a more business-friendly environment that supports sustainable economic growth.
The proposed changes align with Mr Kyerematen’s strategic approach to promoting trade and investment while prioritizing the economic well-being of traders and businesses in Ghana. This initiative underscores his proactive stance on creating a more prosperous and competitive business landscape within the region.
