An Economist at the Kumasi Polytechnic, Mr. Kusi Boafo has revealed the reduction in taxes as promised by the that president elect Nana Akufo Addo may take about three years to be fulfilled.
He said there are some important taxes that the president elect needs to look at immediately in order for the ordinary Ghanaians to have a feel of what they are bringing to them.
The plethora of taxes imposed on Ghanaians by the Mahama administration will be scrapped under an Akufo-Addo government, flag bearer of the New Patriotic Party (NPP), Nana Akufo-Addo promised Ghanaians during his campaign tour.
“Because of the high taxes imposed on every business activity in this country, including yours, businesses are being throttled. It is, therefore, no surprise that things are difficult in Ghana at the moment. Under my government, these taxes, imposed on you as a result of the mismanagement of the Ghanaian economy will be no more,” Mr Akufo-Addo added.
Mr Kusi Boafo in an interview on Ghana Te Sen Top FM’s morning show hosted by Nana Yaa Boamponsem Ameyaw stressed that, most of the taxes even if will be scrapped by the new government as promised will even take about three years to be possible.
He said taxes on helmets, Wellington boots, sanitary pads, condoms, baby’s cot, raw materials and some other few one could be removed as soon as possible.
Others like capital gain tax and some special duty taxes should also be scrapped of immediately for the ordinary Ghanaian to feel the impact.
Mr. Boafo advised the new government to as a matter of urgency build the investor confidence in the economy since investors lost business confidence due to the challenges they faced especially with the power outages.