Corporate tax hikes worrying – ARB Apex Bank

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• Odikro 9 years ago

  At 25%, the Ghana corporate tax is still one of the lowest in the world. In the US, it is 39.5%. The 25% should also be applied to to individual who make a certain threshold, say John Mahama whose income includes Ford expedit ...
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  At 25%, the Ghana corporate tax is still one of the lowest in the world. In the US, it is 39.5%. The 25% should also be applied to to individual who make a certain threshold, say John Mahama whose income includes Ford expeditions and borrowed monies by his siblings.

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• G. K. Berko 9 years ago

  The reported hike in Corporate Tax from 8% to 25% is way too steep. The increase is too much, and it could drive many potential investors away from Ghana.
  
  Local Businesses may also cut down on expansion plans and curtai ...
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  The reported hike in Corporate Tax from 8% to 25% is way too steep. The increase is too much, and it could drive many potential investors away from Ghana.
  
  Local Businesses may also cut down on expansion plans and curtail new hires. As much as we have always lamented that Corporations fail to pay their fair share of Taxes, a high Corporate Tax is not good for a fledgling Capitalist System as we have. Furthermore, the increase could have been done over a period of years, so that it could give the Companies time to adjust for increased productivity to offset the hike.
  
  More, it is politically unwise for the incumbent Administration to implement any increase in Taxes at the threshold of Elections. That is a gift of political advantage to the Opposition.
  
  Meanwhile, we are yet to see any concomitant clamping down on corruption among Officials. So, while the Corporations are supposed to pay more to support our State expenditure, our Corrupt Officials have a continued unrestricted freedom to loot the State assets. The Government is thereby euphemistically, 'robbing Peter to pay Paul'.
  
  Our Local Businesses need easier access to Capital, not a constricting path to the same. The entrepreneurial spirit would be badly threatened by such a Tax hike, and businesses might pass the higher tax on to the consumers in higher prices of goods and services. That would also make us more vulnerable to inflationary tendencies.
  
  Long Live Ghana!!!

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