GUTA wants gov't to scrap 2% special tax on imports

The Ghana Union of Traders Association (GUTA) has called on government to focus its attention on the exchange rate, import duties and the 2 per cent special tax on import as it prepares to present the 2019 budget.

GUTA is also lamenting the high interest rate, which makes it difficult for local businesses to grow and compete.

Finance Minister, Ken Ofori Attah, is expected to present the 2019 budget on behalf of government to Parliament on Thursday.

The association among other things is hoping that the statement will help address the challenges confronting local businesses.

National Secretary for GUTA, Mr Alfa Shaban, in an interview with Kwame Tutu on Rainbow Radio 87.5FM said, the levies and taxes on duties amounted to about 52 per cent, which sometimes exceeded their capital; the major reason products were very expensive.

He posited that although our taxes and import duties are "very high’’ it does not commensurate with the services rendered. He said because the exchange rate is reviewed on weekly basis, it affects their capital for items imported.

''We also expect that the 2 per cent special tax on import be removed. GUTA is calling on the government to take a further look at the duties and taxes charged on products in the country, as these duties are harming our businesses.