The Ghana Union of Traders’ Associations (GUTA) has expressed its indignation at the imposition of the 5% Excise Tax on plastic manufacturing companies in the country and has called for the immediate withdrawal of the tax to save these companies from collapse.
According to GUTA, it does not want to believe that the government is being insensitive to the plights of the business community and Ghanaians by imposing such a tax on plastic manufacturers, especially during this period of local currency instability, increasing utility tariffs, and numerous other taxes that the business community is grappling with.
In a statement signed by its General Secretary, Alpha Shaban, GUTA questioned the economic prudence of imposing the tax.
“What economic sense does it make at this time, when the government is said to be driving its industrialization agenda, calling for the need for import substitution, and at the same time imposing such an obnoxious tax on local manufacturing companies? This will collapse businesses that are already suffocating due to the unbearable taxes in the system.
“The business community can no longer accept any additional layer of cost to doing business in the country, so we appeal to the government to, as a matter of urgency, stop the implementation of the 5% Excise Tax to alleviate hardship in the country.”
Source: Kasapafmonline.com
