Bawumia’s tax reforms and amnesty a business-friendly solution- GUTA President

The Ghana Union of Traders’ Associations (GUTA) has expressed its approval of the tax reforms and amnesty proposed by the New Patriotic Party (NPP) flagbearer, Dr. Mahamudu Bawumia.

GUTA President, Dr. Joseph Obeng, has hailed the policy as a much-needed remedy for the challenges facing the business community today.

During the NPP manifesto launch, Dr. Bawumia pledged to introduce a tax amnesty in 2025 if elected in the upcoming December 2024 presidential elections.

He criticised the current tax structure as outdated and emphasised the need for a more effective tax system.

Speaking on Adom FM’s morning show, *Dwaso Nsem,* Dr. Obeng highlighted the potential benefits of this policy for businesses. “The manifesto is a solution for today’s problems since it seeks to reform our tax systems, which is the biggest bane of the business community,” he said.

He noted that the current tax system’s complexity often leads to tax evasion, adding that the proposed amnesty could provide relief to businesses struggling with heavy tax burdens.

“If taxes are cumbersome and outrageous, people always find means to evade. There are a lot of tax defaulters, and if they should pay, they will be out of business and have no money for recapitalisation, so the amnesty will go a long way to help us,” Dr. Obeng explained.

Dr. Obeng expressed optimism that the proposed amnesty would encourage more businesses to comply with their tax obligations, thereby boosting the overall economic environment.