Dr. Bawumia promises tax amnesty for Ghanaian businesses in 2025

In a recent news, Dr. Bawumia has promised Ghanaian businesses and its owners a tax amnesty on their operations in 2025 when elected to power.

This strategic move is defined as part of the country’s effort to transition to the flat rate system, where every Ghanaian business owner would have to pay a single rate on taxable goods and services.

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Dr Mahamudu Bawumia, Vice President of Ghana and flag-bearer of the New Patriotic Party (NPP), who announced this, said he would also bring in alignment of import duties, when elected as President in the soon coming general elections.

During the time he was addressing the members of the Ashanti Regional House of Chiefs on his 3-day campaign tour in the region, he explained that this would move would help importers and business owners to predict taxes they would have to pay when importing.

The vice President pointed out that one thing that was disturbing importers and the business community was unpredictability.

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“This is one thing that is disturbing importers, there is no predictability. The predictability on import duties will help importers to have a fair idea of how much to pay and at a flat rate in Ghana Cedis.”

The quantity of each goods being imported must have a flat rate, since there is no predictability, prices of goods and services are being increased without notices and benchmarks and this brings about inflationary biases,” he told the chiefs.

On credit systems, he elaborated that Ghana had been able to generate a database to help implement credit scoring, adding that the country would start credit scoring before December 2024.

Dr. Bawumia also pledged to train one million youth in digital skills to increase career opportunities across the country.

“Even people who are school dropouts will be trained in digital skills for a better Ghana.”

The Vice President asserted that since he had worked tirelessly and performed well under the government of President Akufo-Addo, if voted as the next President he would continue to fight corruption and remain accountable to the people of Ghanaians.

He said the Government of Ghana was in the process of empowering chiefs to be actively involved in the governance system.

To this conclusion, he noted, the Government would need to amend the Chieftancy Act, give more powers to chiefs and resource them financially to discharge their duties.

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Daasebre Osei Bonsu, Asante Mamponghene, thanked the Vice President for the visit and said the chiefs would always support the government to implement various initiatives that would help improve the living conditions of the people.

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