Businesses Cry Over High Taxes

Chief Executive Officer (CEO) of Jaster Group of Companies, Charles Asum, has decried the continuous increment in taxes by government which negatively affects local businesses.

Mr Asum, in an interview with BUSINESS GUIDE over the weekend, revealed that many Ghanaian companies were collapsing because of the huge tax burden.

According to him, a lot business people were considering relocating to other countries with favourable tax regimes to invest there.

‘There would be no need for us to be in business if not to cater for our families and eat. We have not been given any tax holiday even though we augment government’s efforts at creating jobs,’ he observed.

The CEO of Jaster Group of Companies wondered why the authorities offer foreign companies operating in the country tax holidays and neglect Ghanaian businesses, appealing to the government to reconsider its stance on certain tax components.

Even though many local business people are struggling as a result of the current high taxes in the country, most of them are afraid to express their grievances for fear of being intimidated by government, he indicated.

‘I can tell you for a fact that when we meet as businessmen, most of my colleagues complain bitterly about the current tax regime which weighs down our businesses but they are afraid to come out and talk because if they do so, they fear government and its agencies would come chasing them and push them out of business.’

He stressed the need for government to reconsider certain policies to make the environment conducive for major businesses in the country that are currently laying off workers.

According to him, ‘The repercussions would come back to hit all of us in the face, with government likely to be the ultimate loser.

‘It would therefore be important for government to take a second look at the existing policies and taxes to encourage local businesses to grow because the current situation is not the best,’ he emphasised.

He expressed worry about the conduct of state institutions which continually close down businesses under the pretext that the owners have defaulted in the payment of mandatory taxes.

He said the institutions mandated to collect taxes on behalf of government could negotiate with business owners to pay the amount owed in instalments rather than closing them down and rendering several persons jobless.

The CEO revealed that he was not advocating tax evasion and called on relevant institutions to allow them to operate freely and pay what is due government.

A DAILY GUIDE Report
Pix saved as Mr. Charles Asum in newdaily


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