Bawumia Promises Businesses And Individuals Tax Amnesty If He Wins 2024 Election

• Vice President Mahamudu Bawumia has reiterated his promise of a new tax regime if he wins the 2024 election
• Bawumia has already indicated he wants to usher in a new tax regime with a flat rate to boost business
• He was speaking at a stakeholder interaction with members of the Ghana National Chamber of Commerce and Industry

New Patriotic Party flagbearer and Vice President Mahamudu Bawumia has assured that businesses and individuals will have a clean tax slate under his presidency if he wins power.

Bawumia said a new tax regime was necessary to boost the private sector.

He was speaking at a stakeholder interaction with members of the Ghana National Chamber of Commerce and Industry in Accra on March 21.

"Our tax system has been the same since independence and it has not helped us so we have to change it," he said.

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Bawumia has already indicated he wants to usher in a new tax regime with a flat rate.

He wishes to make Ghana one of the most tax-competitive countries in the world.

Bawumia's pledge to remove taxes

Bawumia tries to distance himself from some of the Akufo-Addo administration's policies.

The NPP flagbearer has already promised to abolish the e-levy and other taxes burdening Ghanaians.

The Electronic Transfer Levy Act imposed a levy of 1% on electronic transfers like mobile money transactions.

Bawumia also announced that he will abolish the emission levy, tax on betting, and the proposed 15% VAT on electricity tariffs if it exists by January 2025.

The government has already backed away from implementing the unpopular 15% VAT on electricity purchases.

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Bawumia said he would execute these promises if elected president after the 2024 polls.

Businesses and NGOs pile pressure on government to remove emissions levy

YEN.com.gh reported that some business groups and NGOs in Ghana have been voicing their opposition to the emissions levy.

For example, the Ghana Union of Traders Association said the emission levy would contribute to double taxation.

The Executive Secretary for the Importers and Exporters Association of Ghana, Sampson Asaki Awingobit, told YEN.com.gh the tax was redundant and had to go.

Source: YEN.com.gh