We will not relent on calls to review 3 new taxes - GUTA

The Ghana Union of Traders has noted that it will not relent on its demands for a review or withdrawal of the three new taxes introduced by the government.

According to Clement Boateng, the association will continually engage the government to review the taxes during the mid-year budget review.

He explained that traders will be forced to transfer the extra cost to customers.

According to a myjoyonline.com report, he made the statement after the swearing-in of new executives of the Abbosey Okai Spare Parts Dealers Association.

“GUTA is still calling on the government to have an engagement so that we can offer some solutions that will raise more revenue than the taxes. But we are looking at the 2023 Mid-year Budget Review for the taxes to be reviewed.

“It is not too late for us as a trading community and we will still be pushing. But in the meantime, we have to pass on the cost to consumers because this is a business and every businessman or woman will do that,” he was quoted by myjoyonline.com.

The Ghana Revenue Authority revealed that the implementation of the three new and revised taxes passed by parliament will begin on May 1, 2023.

A notice by the Authority noted that businesses had been given enough time to configure their systems for the taxes to be implemented since the law was passed.

Meanwhile, the Ghana Union of Traders Association has noted that this may result in an increase in the price of goods and services as they may be forced to pass on the extra cost to consumers.

The new and revised taxes include three key tax measures – the Excise Amendment Act, 2023; Income Tax Amendment Act, 2023; and the Growth and Sustainability Levy Act, 2023.

SSD