The Chief Executive of the Private Enterprise Federation (PEF), Nana Osei Bonsu has revealed that more businesses in Ghana are now adopting strategies to reduce their tax liabilities to the state.

According to him, businesses are frustrated by high tax rates, multiplicity of levies, as well as harassment from tax authorities during revenue collection.

Nana Osei Bonsu was speaking on PM Express Business Edition with host George Wiafe on May 30, 2024. 

He disclosed that a survey conducted by PEF showed that most businesses were not ready to pay taxes.https://www.youtube.com/embed/92djFZP89Wc

“We should understand that most businesses want and are willing to pay  taxes. As long as the processes are simplified, they will honour their obligations without the authorities chasing them”, he assured.

Engaging Government on concerns
Nana Osei Bonsu lamented that policy makers have been inaccessible.

He pointed out for example that it is now difficult to reach government officials to express the sentiments of the private sector.

“The Private Enterprise Federation has not met with the Economic Management Team for a long time, especially when it comes to their quarterly meetings. We got the understanding from the Economic Management Team that private sector was trying to monitor things too much, whiles we sought answers to some issues” he said.

He stated that the expectations of the private sector was for government to create an enabling environment for businesses to expand.

“We are still working to re-engage the Economic Management Team to ensure that their concerns are addressed.

He added that most Small and Medium Size Enterprises which constitute the major part of the private sector have been hit badly by taxes introduced by government.

Source: myjoyonline