The Ghana Union of Traders Association (GUTA) has welcomed the proposed flat tax policy by New Patriotic Party (NPP) flagbearer, Dr. Mahamudu Bawumia.
GUTA has said the policy if implemented will help stabilise and reduce the cost of doing business in the country.
GUTA President, Dr. Joseph Obeng made this known during a meeting with Dr Bawumia on Friday as part of his engagement with key stakeholders in the business community.
However, Dr Obeng suggested it would be better if Dr Bawumia explained the policy properly for the business community to understand it better.
On his part, Dr Bawumia said businesses are the backbone of every economy thus if they flourish, it will bring prosperity.
This, he said, is the reason why his first goal as President will be to revive businesses.
Dr Bawumia at an engagement with the Ghana National Chamber of Commerce and Industry (GNCCI) assured businesses of tax amnesty in 2025 if he wins the December 2024 presidential elections.
According to him, the country’s current tax structure is not fit for purpose, hence the need for a change in the tax system to change.
Dr. Bawumis argues it’s about time Ghana becomes competitive like other countries like Estonia.
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