Importers and Exporters Association vow to block new taxes

The Importers and Exporters Association of Ghana (IEAG) have vowed to resist the three new taxes approved by Parliament.

The Executive Secretary, Asaki Awingobit has said the association is disappointed in Parliament for passing the bills despite the numerous pleas from the business community.

Speaking on Adom FM Dwaso Nsem, Mr Awingobit stated the government has not been fair to businesses, considering the challenges the country is facing.

“We are disappointed and not in good mood. We are going to have a crunch meeting and by tomorrow we will communicate measures we will put in place to block these new taxes,” he said.

Parliament on Friday passed the Excise Duty Amendment Bill 2022, the Growth and Sustainability Levy Bill, 2022, the Ghana Revenue Authority Bill 2022 and the Income Tax Amendment Bill 2022.

The financial bills seek to rake in about 4 billion Ghana Cedis annually as part of domestic revenue mobilisation.

The bills are also crucial to aid the government’s quest to facilitate the Board Approval for the $3 billion International Monetary Fund (IMF) Programme staff-level agreement.

But to Mr Awingobit, there are other effective means through which the government could have increased revenue.

“They could have amended the property rate tax, real estate tax, luxurious tax but they didn’t because they know they will be affected. With what they have done, it means the business community will be forced to increase prices but we can’t also let consumers suffer.

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“We are the business community and speak one language. We will use the business language and we are not going to accept this to increase prices knowing very well the consumers don’t have the purchasing power. They should go back to IMF and tell them Ghanaians are opposing the new taxes,” he added.

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