New Patriotic Party (NPP) flagbearer Vice President Dr Mahamudu Bawumia has assured members of the Ghana Union of Traders’ Association (GUTA) of his commitment to implement business-friendly tax reforms to boost transactions under his administration.
During an interaction with GUTA members in Accra, he reiterated his plans to introduce a flat-rate tax system and grant tax amnesty to all businesses and individuals in 2025.
He pledged to benchmark Ghana’s port duties with those of Lome Port, Togo, ensuring parity or lower tariffs to deter smuggling and diverting goods to neighbouring ports.
Furthermore, the NPP flagbearer outlined his intention to impose specific duties at the port on 20-footer and 40-footer containers to enhance pricing predictability of imported goods.
Dr Bawumia also highlighted initiatives to stabilise the local currency through the Bank of Ghana’s gold-purchasing policy, ultimately leading to stable exchange rates.
“My government will prioritise the interests of businesses, aiming to make Ghana one of the most business-friendly economies globally,” he stated.
He announced plans to introduce a Credit Scoring System for entrepreneurs and individuals by June, reducing interest rates for those with good loan payment records.
“Under my administration, we will reduce government borrowing by moving government’s expenditures to the private sector.”
Also, Dr Bawumia pledged to focus on solar power generation to produce 2,000 megawatts of solar energy within the first four years of his presidency.
“I am encouraged by GUTA’s positive reaction to my policy proposals, especially the tax amnesty and flat tax and container rates proposals, aimed at creating a friendly environment for businesses to thrive,” he said.
Earlier, Dr Joseph Obeng, President of GUTA, outlined challenges faced by Ghanaian entrepreneurs, including the high costs of doing business.
Members of the Association also engaged in discussions, seeking clarifications and making suggestions.
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