|
Getting your Trinity Audio player ready...
|
Dr. Mahamudu Bawumia, the flagbearer of the New Patriotic Party (NPP), has reaffirmed his commitment to implementing a flat-rate tax system in Ghana, inspired by Estonia’s model, to support local businesses.
Speaking at the party’s manifesto launch in Takoradi, Dr. Bawumia explained that this tax reform would simplify tax administration by giving taxpayers clear visibility into their obligations. He emphasized that a flat-rate system would streamline the process of filing and paying taxes, facilitating business growth.
Dr. Bawumia also pledged to reduce government spending by 3% of GDP, equivalent to approximately GH₵30 billion, if elected in the 2024 general elections. This reduction, he said, would be redirected towards enhancing private sector involvement in public infrastructure and services, thus supporting job creation and economic development.
“Our plan is to cut 3% of GDP from government expenditure and direct these resources towards private sector provision of public infrastructure and services,” Dr. Bawumia said. “We will use our proven gold purchase program to stabilize the currency, provide businesses with planning predictability, and ensure stability in input prices.”
He further detailed his tax reform strategy, stating, “Introduce a flat rate tax system in Ghana, like Estonia. This will simplify tax administration by giving taxpayers visibility into their tax obligations, making it easier to file and pay their taxes.”
Dr. Bawumia also proposed complementing the flat tax system with a Tax Amnesty Program to support industry expansion, increase hiring, and stimulate economic activity.
Email Daily Mail GH: stories@dailymailgh.com or
Whatsapp: +233(0)509928122
