The Ghana Union of Traders Association (GUTA) has praised the government for the 2025 budget, describing it as a demonstration of good intentions and a positive step for the business community.
Speaking in an interview on Ekosii Sen on Asempa FM, GUTA President Dr. Joseph Obeng welcomed the removal of certain taxes, including the Covid-19 Levy, Betting Tax, and E-Levy, stating that it would ease the financial burden on traders.
“The fact that some taxes have been removed, especially the E-Levy and other transaction-related levies, is a relief to the business community. These taxes affected us directly, so their removal will put money back into people’s pockets,” he said.
Dr. Obeng, however, stressed the need for reforms in the Value Added Tax (VAT) system, which he believes will have a greater impact on businesses, particularly regarding duty payments and trading activities.
“We expected major changes in duty payments and VAT reforms. The government also promised a fixed tax or duty system at the ports, but we didn’t hear anything about that. Now, we are waiting to see the VAT reforms, as they will determine the real impact on businesses,” he added.
He also commended the government for allocating GH¢51.3 million as seed money for the establishment of the Women’s Development Bank, an initiative aimed at supporting female entrepreneurs.
GUTA’s reaction adds to the ongoing discussions on how the 2025 budget will shape Ghana’s business landscape, with traders keenly watching how the proposed reforms will unfold.
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