Fasttrack actions to pass exemptions bill - TUC to govt

Dr Anthony Yaw Baah 620x406 1 610x400 Gen.Secretary, GTUC Dr. Yaw Baah

Fri, 26 Nov 2021 Source: www.ghanaweb.com

Address loopholes in Ghana’s tax system, TUC tells govt

TUC advises government to pay attention to property taxes

Address high debt rates to aid in economic development, TUC to govt

The Ghana Trade Union Congress (GTUC) want government to fast-track processes to pass the tax exemptions bill.

The bill comprises tax waivers given to foreign and local companies to encourage an increase in investment and attract more foreign direct investment into the economy.

They are calling for expedite actions to address pertinent issues in Ghana’s tax collection system.

General Secretary of the Union, Dr.Yaw Baah said “there is an urgent need to plug the loopholes in the tax system. We supported the establishment of the Revenue Assurance, Compliance and Enforcement (RACE). We asked government to pass the tax exemption bill and move further to streamline the exemptions regime. We asked government to pay more attention to property taxation and work with the District/Municipal/Metropolitan Assemblies to collect property taxes," it said as part of its pre-budget propositions.

He further said, “we see no response on the suggestion to increase the tax rates on tobacco, alcohol, and property and drinks with high sugar content”, though it applauded government for some initiatives to be taken in 2022 including intensifying the Revenue Assurance and Compliance Enforcement (RACE), a modification of the Tax Exemptions Bill which will be passed and implemented in 2022 and the implementation of a staff rationalisation exercise.

The Union is however asking government to exercise caution in economic management in addressing the high debt levels while bettering current hardships.

This follows what it describes as falling revenues below expenditure, leading to rising deficit and debt levels.

In its review of the 2022 Budget Statement and Economic Policies of government, the TUC expressed worry about the worsening living standards, emanating from the high cost of living, low pay and joblessness.

The suspension of the Stabilization and Recovery levies on petrol, diesel, and LPG, but called for permanent removal of levies on petroleum products as demanded by the Ghana Private Road Transport Union was part of initiatives the Union embraced.

“Ghanaians are struggling. Government must come to their aid," it pointed out.

The TUC called for the assessment of the 1.75 e-levy to see if it meets the requirement of a good tax.

It also wants to find out the impact of the abolishment of road toll on government revenue.

Speaking on behalf of the union Dr. Baah urged government to consider reviewing the various public sector employment programmes and explore the possibility of integrating them.

“We expected the 2022 Budget to address the problems that inhibit the expansion of the private sector in the most aggressive way. We asked the government and the relevant public institutions to secure markets for domestic firms locally and externally. We urged government to invest in employment data to allow for assessment of the impact of government policies on employment,” the union lamented.

Source: www.ghanaweb.com