Rationalize Ghana’s tax system – AGI tells government

The Association of Ghana Industries (AGI) has criticized Ghana's tax system as unfair and harmful to local business growth.

AGI CEO Seth Twum-Akwaboah described the current regime as overly complex and a deterrent to private sector development, with high taxes, such as 52% levies on imported raw materials, discouraging compliance and reducing revenue.

He highlighted the need to simplify and streamline the tax system to improve efficiency and fairness.

Twum-Akwaboah specifically called for a review of the VAT system, noting that its uneven application disadvantages formal businesses. He urged deeper engagement to rationalize taxes for better revenue generation.

President John Mahama has also pledged to reform the tax system, aiming to reduce inefficiencies and attract investors to create jobs and support Ghana's economic repositioning.