GUTA calls for restoration of 3% VAT rate

The Ghana Union Traders’ Association (GUTA), has called on President Nana Addo Dankwa Akufo-Addo’s government to restore the three per cent flat Value Added Tax (VAT) rate which was increased to 17.5 per cent by the past administration.

Mr Joseph Paddy, the Public Relations Officer (PRO), GUTA told the Ghana News Agency that high taxes and import duties were not helping the growth of their businesses.

He lauded the nomination of Ken Ofori-Atta as Minister of Finance and Alan Kyeremanteng as Minister of Trade and expressed the hope that their concerns would be addressed.

The PRO said, the Association was of the view that their concerns on the influx of foreigners on the country’s local business scene would also be addressed.

“Alan Kyeremanteng is on top of trade issues, so we have confidence in him,” he added.

He also prayed the new administration to reduce the high taxes that he alleged crippled most businesses during the past government. 

Mr Paddy said the Association was ready to collaborate with the government to move the economy forward to build and develop the nation per the growth of their businesses.

He said the Minister nominee should bring the public-private partnership together to grow the economy.

He said economic power should be in hands of Ghanaians.

“We want all governments to succeed so they…to help address our grievances,” he added.

Source: GNA