“In order to stop corruption and corporate harassment, we will also conduct a faceless tax audit. Moreover, unless there is a specific reason, an audit of any corporation cannot be conducted more than once every five years. Other nations are acting in this manner,” he continued.
“I want Ghana to be among the nations with the lowest tax rates globally. I have examined a variety of tax systems. Most recently, I traveled to Estonia, one of the world’s most digitally advanced and tax-competitive nations, to study their tax structure. In my opinion, Ghana can accomplish it and perhaps surpass it.
In addition, the Vice President restated his promise to eliminate certain taxes during his presidency, including taxes on online banking.
“I will abolish certain taxes, like the e-levy, as I have said, because we want to encourage a cashless system.”
Dr. Bawumia also vowed to keep his promise to importers, establishing a flat rate for spare part imports and benchmarking Ghana’s port fees to Togo to make them competitive.
“We can even be lower, to make Ghana the most competitive,” he stated.
While offering Dr. Bawumia some recommendations, the Chamber also applauded him for several of his policies, particularly his promise to make the private sector the engine of the Ghanaian economy and his new flat tax and tax amnesty for individuals and businesses.
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