The Association of Ghana Industries (AGI) has become the latest business community in the country to slam Parliament over the passage of government’s three new tax bills into law.
AGI in a statement signed by its Chief Executive Officer, Seth Twum Akwaboah said the passage of the bills is detrimental to the economic growth of the country because they “pose very dire consequences for Industry.”
The Association says it was not consulted prior to the introduction and debate of the bills and that its submissions were not considered.
It also mentioned some hurdles including inflation, VAT, increased utility tariffs, etc. already confronting the business community which the government and Parliament disregarded to have the three bills passed.
AGI also warned that the new taxes will force industry to cut down expenditure and production volumes which will eventually affect the revenue the government is seeking to rake with the passage of the bills and called therefore called for engagements with the various stakeholders to forestall future consequences.
Read full statement below.
