{"id":157048,"date":"2024-02-29T05:36:58","date_gmt":"2024-02-29T05:36:58","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/02\/29\/businesses-relocating-to-neighbouring-countries-due-to-taxes\/"},"modified":"2024-02-29T05:36:58","modified_gmt":"2024-02-29T05:36:58","slug":"businesses-relocating-to-neighbouring-countries-due-to-taxes","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/02\/29\/businesses-relocating-to-neighbouring-countries-due-to-taxes\/","title":{"rendered":"Businesses relocating to neighbouring countries due to taxes"},"content":{"rendered":"<p><\/p>\n<div>\n<p>The Chairman of the Food and Beverage Association of Ghana (FABAG), John Awuni, has expressed concerns regarding the adverse impact of heavy taxes imposed by the government, leading to the collapse of businesses in the private sector.<\/p>\n<p>During an interview with Bernard Avle on <strong>Citi TV\u2019s Point of View<\/strong>, following the State of the Nation address, Mr. Awuni disclosed that numerous companies are opting to relocate their operations to neighbouring countries as a strategic measure to avert failure.<\/p>\n<p>Expressing his discontent with the tax burden affecting the private sector, Mr. Awuni highlighted the multiple taxes contributing to the sector\u2019s challenges.<\/p>\n<p>He cited the COVID-19 levy, the Carbon Emissions Levy, and the Growth and Sustainability tax, among others, as examples.<\/p>\n<p>\u201cThe private sector is really under serious tremendous taxes, we still have COVID-19 levy, Carbon Emissions Levy, Growth and Sustainability tax, I can go on and on.<\/p>\n<p>\u201cOur interest rates and inflation rates remain very high, our currency remains highly unstable which makes the players lose their capital by the day. There\u2019s a high level of unemployment that shows that the private sector is not doing well.<\/p>\n<p>\u201cAs a result of the high level of taxation and the poor performance of the private sector, people have devised various means of making their businesses survive. We\u2019re in an era where most players in the private sector have started repositioning their businesses in the neighbouring countries. In Cote D\u2019Ivoire and Togo, most importers right now are routing their imports through Togo and Cote D\u2019Ivoire and that has shown clearly in our imports data.\u201d<\/p>\n<p>\u2014\u2014-<\/p>\n<p><em><strong>Explore the world of impactful news with CitiNewsroom on WhatsApp!<\/strong><\/em><\/p>\n<p><em><strong>Click on the link to join the Citi Newsroom channel for curated, meaningful stories tailored just for YOU: https:\/\/whatsapp.com\/channel\/0029VaCYzPRAYlUPudDDe53x<\/strong><\/em><\/p>\n<p><em><strong>No spams, just the stories that truly matter! #StayInformed #CitiNewsroom #CNRDigital<\/strong><\/em><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Chairman of the Food and Beverage Association of Ghana (FABAG), John Awuni, has expressed concerns regarding the adverse impact of heavy taxes imposed by the government, leading to the collapse of businesses in the private sector. During an interview with Bernard Avle on Citi TV\u2019s Point of View, following the State of the Nation [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":157049,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-157048","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Businesses relocating to neighbouring countries due to taxes - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/02\/29\/businesses-relocating-to-neighbouring-countries-due-to-taxes\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Businesses relocating to neighbouring countries due to taxes - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"The Chairman of the Food and Beverage Association of Ghana (FABAG), John Awuni, has expressed concerns regarding the adverse impact of heavy taxes imposed by the government, leading to the collapse of businesses in the private sector. 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