Ghana Is Hard– GUTA Cries Out
The Vice President of the Ghana Union of Traders Association (GUTA), Charles Gyan reveals that the high cost of goods and services in the country is leading to a high tax burden on businesses.
Mr. Gyan explain that many businesses were not able to keep their heads above because they are forced to transfer taxes onto the cost of their products.
He said while the situation makes products and services more expensive to purchase, only little businesses could stand about the situation.
He disclosed this to Accra base radio station in an interview and impel the Ghana Revenue Authority (GRA) to help approach the issue of the high cost of goods and services by increasing the tax net to have the tax burden reduced on the few companies that are being burdened all the time with new taxes.
He also added that “the Government should strategies their way of generating money by taking taxes. Few people have been targeted. GRA as an institution must back up. He thinks they are asleep and are very lazy. They are not helping matters because if we look at the number of people in the informal sector who are not contributing anything, it is a pity to our democracy and a lot of Ghanaians are suffering due to the high cost of living in the country.”
Also, he noted that increasing prices to make up for new taxes imposed on businesses is not held continuously and as such, the businesses may have to send off employees to continue functioning.
Additionally, Mr. Gyan said, “If the few businesses are always being burdened [with taxes] it will get to a point where they are going to lose businesses and unemployment will go up. Masons, carpenters, and all of such persons don’t pay anything and they must bring on board.”
Due to the recent increment of transport fares indicating of utility prices also will go up soon and no increase in wages and salaries, the future appears to be miserable.