Founder and Leader of the Movement for Change, Alan Kyerematen, has pledged to abolish several taxes imposed on imports, stating they are “unnecessary and a huge burden to the trading community.”
He made the pledge during an engagement with members of the Ghana Union of Traders Association (GUTA).
He asserted, “Under my presidency, Ghana will have the lowest tax rate regime in ECOWAS.”
Mr. Kyerematen outlined a series of tax measures to reduce the burden on Ghanaians, particularly on imports. Immediate measures include “consolidating the existing NHIL & GETFund levies at the ports into the calculation of a new VAT rate” and abolishing the “Special Import Levy of 2%, COVID-19 Health Recovery Levy, and the Ghana Health Service Disinfection Fee.” He also promised to abolish taxes and charges on spare parts importation within two years of his administration.
Additionally, Kyerematen pledged to conduct a comprehensive assessment of “all other administrative fees, service charges, and levies imposed at the ports.”
President of GUTA, Dr. Joseph Obeng, highlighted the challenges of doing business in Ghana, citing “22 different taxes apart from VAT” that add up to nearly “65% of the value of imports.” He emphasized the need for an enabling business environment to improve the livelihoods of Ghanaians.
Mr. Kyerematen proposed shifting from heavy reliance on indirect taxes to direct taxes, aiming to “optimize revenue mobilization from direct taxes (personal and corporate)” and reduce dependence on indirect taxes to enhance corporate competitiveness and profitability.
These plans align with Kyerematen’s Great Transformational Plan (GTP), which aims to deliver the vision of a prosperous, united, and peaceful Ghana that provides equal opportunities for all, especially young people, women, and vulnerable groups.
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