Ghana Union of Traders' Association (GUTA) Throws Weight Behind Bawumia's Flat Tax Proposal
GUTA throws its support behind Dr. Mahamudu Bawumia's proposal for a new flat tax regime and tax amnesty in Ghana, citing potential benefits for businesses and economic growth.
In a significant move, the Ghana Union of Traders' Association (GUTA) has voiced its support for Dr. Mahamudu Bawumia's proposed implementation of a new flat tax regime and tax amnesty. The association sees this initiative as a pivotal step towards relieving businesses and igniting growth across various sectors.
During an interactive session held in Accra, where Dr. Bawumia elaborated on his vision for Ghana, GUTA President Dr. Joseph Obeng Darko lauded the tax reform proposal. He emphasized that a flat tax system would streamline processes and pave the way for business expansion.
"We endorse your flat tax proposal because it will simplify procedures for us and facilitate the growth of our businesses," remarked Dr. Obeng Darko, representing GUTA. He underscored the potential positive ramifications of tax amnesty and a flat tax rate on businesses, suggesting that such policies would incentivize responsible practices and drive growth over the coming years.
Dr. Bawumia engaged extensively with GUTA members during the session, addressing their concerns and incorporating their suggestions into his plans. He reassured them of his commitment to nurturing a conducive business environment, outlining his strategies for business-friendly tax reforms and measures to combat smuggling.
The NPP flagbearer shed light on the meticulous planning behind his proposed tax reforms, aiming to establish a tax system that bolsters business growth and enhances competitiveness in Ghana. He reiterated his determination to swiftly implement these reforms, including imposing a flat duty on containers for spare parts and aligning import duty rates with neighboring countries like Togo to curb smuggling activities.
The collaborative effort between Dr. Bawumia and GUTA underscores a shared objective of fortifying Ghana's business landscape and propelling economic advancement. As stakeholders eagerly anticipate the fruition of these proposed reforms, all eyes remain fixed on the promising trajectory ahead for Ghana's business community.
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