GUTA Decries VAT On Bank Services  

George Ofori

George Ofori (left) speaking at a recent press conference

George Ofori, President of Ghana Union of Traders (GUTA), says government has smuggled the 17.5 percent VAT/NHIL on bank services, which was vehemently opposed by the general public, into the tax system.

According to him, the VAT is still being charged by the banks.

Mr. Ofori, who addressed a press conference in Accra, recently challenged anyone, who doubted his claim, to check with the banks.

“We also challenge all those who operate savings and current accounts with the commercial banks to check their remaining balance any time they make withdrawal,” he added.

Mr. Ofori said, “This is bad tax that can adversely affect not only savings with the bank but also the smooth operation of our national economy. So this tax must be removed to save the economy of the country.”

He said the same tactics are being used in the implementation of recent one percent withholding tax on investment, which the government said it would be withdrawn.

Mr Ofori charged Ghanaians to ensure that the one percent withholding tax was scrapped immediately.

Tax On Mobile Phones


Furthermore, he said the government was still charging the 20 percent tax imposed on mobile phones and accessories which were vehemently opposed.

The GUTA President said “After series of negotiations with the government for about one year, the government announced that the tax had been canceled, but surprisingly the GRA- Customs Division still collects this tax at the port under the pretext that they have not received any official communication from the government to that effect.”

He said, “We are confused with the truth of the matter. We want the government to clear the air on it, as well as issue the necessary directive that will stop the collection of this ‘killer tax’ by customs at the port without any delay to forestall any further agitation.

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By Cephas Larbi