‘Don’t surprise us with new taxes’ – Sampson Asaki cautions Finance Minister

Executive Secretary of the Importers and Exporters Association of Ghana, Sampson Asaki Awingobit, has cautioned the Minister of Finance against introducing new taxes in the upcoming national budget without consulting key business stakeholders.

Speaking on Off the Lens, OnlineTimeGH’s YouTube channel, Mr. Asaki described the issue of taxation in Ghana as “a double-edged situation,” noting that both domestic and international taxes remain a major burden for businesses.

“When we bring cargo to the port, we end up paying around 55% to 60% in taxes, which is simply too high. On the domestic side, while those earning less than ₵1,000 are not taxable, others in higher brackets are overtaxed,” he lamented.

Mr. Asaki said that although the current government under President John Dramani Mahama has managed to reduce inflation and the prime rate, easing pressure on businesses, the tax system still needs rationalization and fairness.

He, however, warned that the association will not accept any surprise tax policies from the Finance Ministry in the 2026 budget.

“If the Finance Minister is listening, I’ll be very disappointed if he goes to Parliament to spring new taxes on us without engagement. We will tell him the truth to power,” he stated firmly.

Mr. Asaki stressed that his association, though supportive of government efforts to stabilize the economy, remains committed to defending the interests of the business community.

“I speak for the business community. I don’t look at which political party is in power. If policies threaten businesses, we will speak up,” he asserted.

He urged the Finance Ministry to engage the Importers and Exporters Association and other key stakeholders before finalizing the upcoming budget, emphasizing that effective consultation is crucial for sustaining the current gains in economic stability.

Click the link below to watch the full interview…