Businesses always fight govt over taxes – Kpebu on concerns over increment in Growth & Sustainability Levy

Private legal practitioner Martin Kpebu has downplayed concerns from the Ghana Chamber of Mines over the increase in the Growth and Sustainability Levy from 1% to 3%, noting that businesses worldwide resist tax hikes. Speaking on TV3, he stated that companies always push back against policies that reduce their profits.

Sulemana Koney, CEO of the Chamber of Mines, criticized the lack of consultation, highlighting that the abrupt policy shift could deter investors. Former Deputy Finance Minister Mona Quartey also warned that while revenue generation is essential, the tax hike could strain the extractive sector.

Finance Minister Dr. Cassiel Ato Forson defended the move, arguing that Ghana has not sufficiently benefited from its natural resources. He emphasized that despite rising global gold prices, the country’s extractive sector contributes only 1.5% of GDP.