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The Ghana Union of Traders’ Associations (GUTA) has expressed optimism ahead of the 2025 Budget Statement, urging the new government to introduce policies that will create a more favorable business environment.
GUTA believes that simplifying the tax system and reducing taxes, duties, and levies will ease the high cost of doing business in the country. In a press release issued on February 26, the association’s President, Dr. Joseph Obeng, described the government’s commitment to lowering business costs as “a step in the right direction.”
The association outlined key expectations for the upcoming budget, emphasizing the need to eliminate excessive taxes that hinder business growth. “All nuisance taxes will be scrapped to considerably prune down the number of numerous taxes that impede the growth of business in the country,” GUTA stated.
Additionally, the association called on the government to introduce tax amnesty programs to broaden the tax base. “Government [should] introduce unconditional tax amnesty programmes as a stop-gap measure in its quest to broaden the tax base and to ensure non-tax businesses are enrolled into the tax net and also allow businesses with tax irregularities to normalize their tax obligation to optimize Government revenue mobilization,” the statement added.
GUTA remains hopeful that these measures will be reflected in the 2025 Budget to support business growth and economic stability.
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