‘Sudden Tax Increases Costly For Businesses’

Berhard Abels (right) with Rev Kennedy Okosun (left), Pastor In-charge of Action Chapel, Airport Branch

Deputy Head of Mission at the German Embassy in Ghana, Berhard Abels has complained about the sudden increases in taxes and investment registration fees by the Government of Ghana.

He said such increases are costly for German investors and businesses operating in the country.

Mr Abels, who made this known at a Entrepreneurs Breakfast Meeting organized by Airport Residential Branch of Action Chapel at Best Western Premier Hotel, said “The impact of last-minute changes in regulation, such as tax increments or investment registration fees introduced by Government agencies, is confusing and costly for business.”

He urged government to focus on building the infrastructure and economic policy environment needed for business to flourish.

Mr Abels said bureaucracy in Ghana has to be made more efficient, adding that burdensome regulations and lack of predictability reduce private investor confidence.

He said closer business relations between Ghana and Germany will help to make Ghana, Germany and the world a more prosperous and better place for future generations.

 

German-Ghana Relations

 

Mr Abels said Ghana and Germany work closely in the international community, adding that Development Cooperation is one of the most important areas of German-Ghanaian relations.

Mr Abels stated that since the early 1960s, Germany has provided around 1.5 billion Euros in development assistance to Ghana in addition to debt relief, adding that from 2015-2018, commitments for Ghana will be about 120 million Euros.

In future, he said Germany will continue to support Ghana’s efforts at stabilizing its status as a lower middle income country and achieving the United Nations’ Sustainable Development Goals.

By Cephas Larbi

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