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Current tax regime hindering job creation in Ghana, says GEA President 

2 years ago
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Current tax regime hindering job creation in Ghana, says GEA President 

The President of the Ghana Employers’ Association (GEA), Dan Acheampong, has raised concerns over the prevailing tax regime in Ghana, stating that it is a significant obstacle to the ability of employers and businesses to generate employment opportunities. Acheampong has called for the introduction of a job creation tax credit (JCTC) to incentivize businesses that consistently maintain or increase their workforce beyond a certain threshold.

Ghana’s current economic challenges have already put pressure on employers, making it difficult for them to retain existing workforces. The introduction of new taxes earlier in the year, combined with existing ones, has further burdened businesses, hindering their growth and job creation potential.

Speaking at the GEA’s 63rd annual general meeting, themed “Tax compliance and cooperation in a challenging economy,” Acheampong emphasized the need for innovative tax policies like the JCTC to stimulate business expansion and employment generation. He believes that such a proactive approach will not only benefit enterprises but also contribute to economic development and higher tax revenues.

Acheampong also expressed concerns about the closure of some businesses by officials of the Ghana Revenue Authority (GRA) due to tax irregularities. He argued that such an approach does not support business progress and sustainability, as every minute lost without operation represents revenue lost to both the enterprise and the government.

In addition to advocating for the JCTC, Acheampong urged the GRA to simplify tax regulations and create a conducive environment for compliance. He stressed the importance of clear, easily accessible, and transparent tax regulations, as ambiguities can lead to unintentional non-compliance.

Furthermore, he called for the streamlining of tax filing and reporting processes, particularly for Small- and Medium-sized Enterprises (SMEs). This could involve the implementation of user-friendly online platforms, pre-filling of certain information, and automation of calculations where possible. Acheampong emphasized the importance of taxpayer education and awareness campaigns, both at the central and district levels, to ensure compliance and understanding of tax obligations.

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Responding to these calls, Dominic Naab, speaking on behalf of the Commissioner-General of GRA, Rev. Dr. Ammishaddai Owusu-Amoah, welcomed the feedback from GEA and stressed the importance of continuous improvement in service delivery. He encouraged taxpayers to utilize available channels for dispute resolution to ensure fair treatment.

The Deputy Minister of Employment and Labour Relations, Bright Wireko-Brobby, also expressed government support for GEA’s efforts to create jobs for unemployed youth.

Tags: Current tax regime hindering job creation in GhanaGhana Employers' Association (GEA)grajob creationjob creation tax creditsays GEA President
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