In a bid to support Ghanaian businesses, Dr. Mahamudu Bawumia, the New Patriotic Party’s (NPP) flagbearer, has reiterated his commitment to implementing a flat-rate tax system in Ghana, modeled after Estonia’s approach.
He explained that this initiative would simplify tax administration, offering taxpayers greater transparency and ease in fulfilling their tax obligations.
Dr. Bawumia noted that the flat rate would streamline the process for businesses to file and pay their taxes, ultimately fostering growth and development.
Speaking at the launch of the NPP’s manifesto in Takoradi, Western Region, he also pledged to reduce government expenditure by 3% of GDP if elected in the 2024 general elections.
“We will support businesses to drive and accelerate job creation by cutting 3% of GDP from government expenditure, approximately GH₵30 billion, and redirecting it towards private sector provision of public infrastructure and services,” Bawumia stated.
He added that the NPP would leverage its successful gold purchase program to stabilize the currency, giving businesses and industries predictability in planning and ensuring stability in input prices.
He further emphasized, “We will introduce a flat rate tax system in Ghana, similar to Estonia’s, to simplify tax administration, giving taxpayers visibility into their obligations and making it easier to file and pay taxes. This will be complemented by a Tax Amnesty Programme to enable industries to finance expansion, recruit more employees, and energize economic activity.”
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