The convener of the Coalition of Small Business Owners (CSBO), Justice Ayeh Donkor, is calling on the Akufo-Addo government to either withdraw or review the tormenting taxes that were introduced as part of the conditions to secure the $3 billion IMF deal.
He said the existing tax policies and the tax structure under the Akufo-Addo government was undermining the growth, performance and the revenues of private sector led businesses.
“In support of the position of the Ghana National Chamber of Commerce and Industry (GNCCI), the Government should consider the introduction of tax reliefs in the upcoming 2023 Mid-Year Budget Review as a means of cushioning the suffering and struggling businesses in the country.
“Importantly, the Ministry of Finance should remove the unnecessary 20 per cent and 10 per cent taxes imposed on the revenue of lottery marketing/sports betting companies and winnings respectively.”
Mr Ayeh Donkor noted that the Parliament of Ghana on March 31, 2023, passed the Income Tax (Amendment) Bill which President Akufo-Addo assented it into law.
He said among other things, the new income tax law re-introduced a 10 per cent tax on lottery winnings after it was successfully removed in 2017, and a new unacceptable 20 per cent tax on the revenue of Lottery and Sports Betting Companies.
This Mr Ayeh Donkor said was a very serious additional burden on the already over-taxed Private Companies in Ghana.
He said the threats by the Ghana Revenue Authority to close down all lottery/sports betting companies that fail to pay the 20 per cent and 10 per cent taxes on lottery and Sports betting was completely empty and shall be faced with serious resistance and demonstrations against the New Patriotic Party government.
“The government should not be allowed to use taxes to destroy private businesses resulting to high unemployment rate in the country,” Mr Ayeh Donkor added.