Several bilateral chambers of business have urged the government to include tax breaks for its members in the 2024 budget. The chambers claim that this will protect their members while also growing the private sector.
The appeal comes ahead of Finance Minister Ken Ofori-Atta’s budget presentation on Wednesday, November 15.
The chambers are asking for adjustments at the ports in terms of demurrage costs and tax deductions for firms that want to build up industries in Ghana and bring in heavy-duty equipment, according to Alexander Nortey, president of the Canada Ghana Chamber of Commerce.
Sekou Coulibaly, president of the French Chamber of Commerce and Industry, also urged the government to address the tax collection approach adopted by the Ghana Revenue Authority (GRA) towards members of bilateral chambers of commerce.
“We understand the challenges the GRA has to face, but we just hope that it could be done in more fairness, especially understanding the contributions of our members to the growth of the economy,” he said.
Coulibaly added that most member companies are among the highest taxpayers in the country and that putting too much pressure on them could discourage foreign direct investment.
