The Ghana Union of Traders Association (GUTA) has called for the immediate removal of the newly imposed 5% Excise Tax on plastic manufacturing companies.
The Union expressed concerns over the tax’s impact on the business sector and the overall economy.
GUTA, in a press statement noted that the tax comes at a challenging time marked by the instability of the cedi, increasing utility tariffs, and existing financial pressures on businesses.
The Union questioned the economic reasoning behind introducing such a tax when the government is promoting an industrialization agenda aimed at fostering local production and reducing imports.
According to GUTA, the additional tax burden could jeopardize the viability of plastic manufacturing businesses already grappling with high operational costs.
They argue that the policy contradicts efforts to support local manufacturing and could lead to the collapse of businesses struggling under the current tax regime.
GUTA urged the government to reconsider and halt the implementation of the excise tax, reminding the need for policies that support rather than hinder local businesses.
The Union stressed that the business community is already facing significant challenges and cannot endure further financial burdens without risking widespread economic disruption.