Imani Ghana against additional tax increases – BusinessGhana News

Ghana, a think-tank on policy, launched against the government's attempt to impose additional taxes, saying that this measure would have a negative impact on the living conditions of Ghanaians.

million. Franklin Cudjoe, chairman of IMANI Ghana, said too much financial waste in the system, which required urgent attention. He alleged that there were several million contracts signed without tender documents, which could be used for other development projects.

million. Cudjoe said Monday at a forum on "Ghana's Economic Freedom: Improving Ghana's Rank on Global Economic Freedom Index" organized by IMANI Ghana, in collaboration with the Fraser Institute. According to rumors, the government plans to increase VAT from 17.5% to 21.5%.

million. Cudjoe was of the view that the tax exemptions favored the privilege of society rather than that of the poor, stating that in 2017, the import exemptions He stated that in the Doing Business Report of 2015, Ghana ranked 97th in the world for its ease of business creation, while in the 2016 report it was 2.6 billion GH ¢. According to the Doing Business 2016 report, which collected data from the 2014-2015 period, Cudjoe said that Ghanaian companies made 33 different tax payments a year, spent 224 hours a year clbadifying, preparing, and paying taxes rising in In response to speculation, Dr. Bernard Okoe, MP for Ledzokuku constituency, said the government was considering innovative ways to generate revenue in ways that I am not destructive to. businesses.

million. Fred McMahon, a resident researcher at the Fraser Institute, presenting an overview of the world's economic freedom, said Ghana's economic freedom had generally increased. He said that the 2017 annual report of global economic freedom revealed that Ghana ranked 103rd out of 159 countries.

Ghana was the 16th most free country in Africa after Mauritius (1st) Rwanda (2nd), Seychelles (3rd), Botswana (4th) and Liberia (9th). Mr McMahon said, however, that Ghana had beaten West African neighbors such as Nigeria, Côte d'Ivoire and Togo.

The index provides a comprehensive description of an economy, examining five dimensions of economic policy: size of government, legal systems, and property rights. , the freedom to trade internationally and regulations. The index showed the current state of economic policy and how the policy can be improved. It also provides world-clbad policy models that, if implemented, would bring renewed growth and prosperity to Ghana.