The Ghana Union of Traders Association (GUTA) has called for the immediate withdrawal of the 5% excise tax imposed on plastic manufacturing companies, warning that the tax could lead to the collapse of these businesses. In a press release on Wednesday, July 3, GUTA’s Secretary General, Alpha Shaban, criticized the government’s decision, stating, “We do not want to believe government is being insensitive to the plight of the business community and Ghanaians as well by imposing such a tax on plastic manufacturers in the country.”
GUTA expressed particular concern about the timing of the tax, citing the instability of the cedi, rising utility tariffs, and other existing taxes that the business community is already struggling with. The Union questioned the economic rationale behind the policy, especially given the government’s purported agenda of promoting industrialization and import substitution.
The Union argued that the tax would further burden local manufacturing companies, which are already “suffocating as a result of unbearable taxes.” GUTA emphasized that the business community cannot tolerate any additional costs, urging the government to halt the implementation of the excise tax immediately to alleviate the current economic hardship.
Attached is a press statement:
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