2022 Budget: Increase taxes on “sinful” products – GUTA President
- President of GUTA has no problem with sin taxes increasing
- He does not want government to cancel the benchmark port value
- Sin taxes are imposed on products harmful to human health
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The Ghana Union of Traders Association is appealing to government not to reverse the policy on the 50 percent reduction on the benchmark value in the 2022 national budget statement.
The policy, which was introduced to cushion the importer community from high import duties and high fees and charges at the ports.
“The policy has helped enormously in saving businesses. It has also helped smuggling as well as ensuring compliance and this enabled the government to exceed its revenue targets over the years,” a statement from the President of GUTA, Dr. Joseph Obeng, stated.
According to Dr. Joseph Obeng, businesses are in serious distress and finding it difficult to operate hence any attempt to reverse the policy will spell doom to businesses in the country, especially the trading community.
Meanwhile, president of GUTA says no objection will be made if government decides to increase taxes on non-essential goods such as alcoholic drinks, cigarettes and other related products that may be harmful to human health.
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Source: YEN.com.gh
