The Lead Tax and Regulatory Partner at Deloitte- Ghana, George Ankomah has said the three new revenue bills could lead to the collapse of many Ghanaian businesses.

He stated businesses are still trying to recover from the havoc wreaked by the coronavirus pandemic, hence the new taxes will make things worse for them.

Parliament last Friday approved three tax bills; Tax Amendment Bill, the Excise Duty Amendment Bill and the Growth and Sustainability Amendment Bill.

The financial bills presented by the government seek to generate about four billion Ghana Cedis annually to boost domestic revenue mobilization.

Speaking on Adom FM’s morning show, Dwaso Nsem, Mr Ankomah said the tax bills are counterproductive as businesses may suffer in the government’s quest to increase its revenue.

Also, Mr Ankomah emphasised that, with the tax burden increasingly becoming business owners would also begin to find ways to avoid paying taxes in order to survive in an already harsh economic climate.

The passage has been met with disappointment and resistance from the business community amidst threat by the Importers and Exporters Association to block it.

ALSO READ:

Ade Coker takes on Bagbin over passage of new taxes [Audio]

Importers and Exporters Association vow to block new taxes [Audio]

According to the Executive Secretary, Asaki Awongobit, the new bills will further deepen the woes and hardships on Ghanaians as business owners will be forced to increase the price of goods and services and consumers to suffer.

Play audio above:

Former Greater Accra Regional Chairman of the National Democratic Congress (NDC), Ade Coker has said Speaker of Parliament, Alban Bagbin should not have included Nanton MP in the headcount during the passage of the new taxes.

According to Mr Coker, the MP, Mohammed Hardi Tuferu was nowhere near the Chamber to be counted.

“The MP was on his way when he had an accident clearly doesn’t mean he is in Parliament
as at the time the call for headcount was made, he was not in Parliament and shouldn’t have been included. We don’t wait for people in Parliament,” he said on Adom FM Dwaso Nsem.

Mr Bagbin has said nothing untoward occurred in the passage of the new tax laws regardless of the absence of the Nanton MP due to an accident.

The Speaker instructed the Whips on both sides to clarify the situation as the MP was being transported to the House in an ambulance.

After that, Speaker Alban Bagbin explained why the lawmaker’s vote was included in the total.

ALSO READ:

I did nothing wrong – Bagbin on passage of new tax bills

The outcome of the headcount votes indicated that 136 MPs, representing the Minority caucus voted against the bill whereas 137 Majority caucus MPs including Mr Tuferu voted to approve the new tax bills.

However, Mr Coker maintained that, he should have been a recount when the Speaker’s attention was drawn to it.

Play audio above: