The Vice President of the Ghana Union of Traders Association (GUTA), Charles Gyan, says the major reason for cost of products in the country is the high tax burden on businesses.
“Govt should look at the way it tries to raise money by taking taxes. Few people have been targeted. “He said this on Point of view on City TV.
He said while the situation makes products and services more expensive for many to afford, there is very little the businesses could do about the situation.
According to him, many businesses, in order to stay afloat, are forced to transfer taxes onto the cost of their products.
He argued that the Ghana Revenue Authority (GRA) can help address the issue of rising cost of products and services by expanding the tax net to have the tax burden reduced on the few companies who he said are being burdened all the time with new taxes.
“GRA as an institution must back up. I think they are being very lazy. They are not helping matters because if you look at the number of people in the informal sector who are not contributing anything, it is a pity,” he said.
“If the few businesses are always being burdened [with taxes] it will get to a point where we are going to lose businesses and unemployment will go up. Masons, carpenters, and all such persons don’t pay anything [they must be roped in],” he added.
Many Ghanaians continue to lament the rising cost of living in the country.
