Businesses are collapsing in large numbers over high taxes – Ken Agyapong

Business News of Thursday, 25 October 2018

Source: mynewsgh.com

2018-10-25

Ken Agyapong, MP for Assin Central

If the Akufo-Addo government is not aware of the implications of its tax imposition decisions on Ghanaian businesses, then Assin Central MP Kennedy Agyapong has by himself visited some areas in Tema and reports that high taxes which “doesn’t make sense” is causing the collapse of many businesses and Ghanaians are losing their means of employment; MyNewsGH.com can report.

According to Mr Agyapong, Ghanaian and expatriate businesses are all been affected as they can’t sustain their operations due to the high tax demands from the Akufo-Addo government. The NPP MP is warning that there is the need to do something about the development to keep Ghanaians employed and businesses profitable and sustainable.

In an interview transcribed by MyNewsGh.com, Mr Agyapong said:

“Let me tell you, I went to Tema Mankuazi lane…from Mankuazi someone said he was selling a piece of land and I went to see. I was told the two adjourning plots were also for sale it was from there I realized the situation is serious!” he said in shock.

The government has to help these industries…local industries. What I observed was that almost all the factories lined up from Mankuazi to VALCO roundabout have all collapsed.” he lamented.

Mr Agyapong revealed that he contacted someone to find out why and he reason shocked him.

“Fortunately, one of the guys was still around, they produce aluminum, an Indian. I asked him why they were selling off the factories but in response, he told me the owe CAL Bank and they have to sell to go and pay their debt.” he said.

Kennedy Agyapong said the guy wanted to lie to him about the real situation but he found it out.

“Initially, he told me the workers had gone on break unknown to him I was also a businessman. He was funny because if you produced in large scale and you have a good market will you all staff to go on break? At least half will go, half will stay that was when he took me into his office”, MyNewsGH.com watched Kennedy Agyapong proceed to explain the inner cries of the businessmen.

“The raw materials for the production of the aluminum he pays duty, he pays VAT, all ECOWAS charges everything paid on it … So what have you done to the local industry? By the time he is done, the cost of electricity is too high and all other factors of production except labor. It is high everywhere in the world but Ghana is so high. Except for labour that is cheap in Ghana everything is so high.” Ken said.

“Your aim is tax. You can tax the workers when you create a lot of employment. Right now you have taxed everything and companies are collapsing it does not make sense. If I get time I will meet the President will tell him physically what I saw in Tema. It started long ago but when I speak they refused to listen to me. Why is that the economy of America was doing well under Obama?” he quizzed.

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