Reconsider your decisions on the New Tax Regime… Tuc tells Gov’t

The government has been asked to reconsider its decision on the new tax regime in the country as it will pose a lot of economic hardship on the public while generating money for the government.

Director of Labour Research and Policy Institute of Trades Union Congress (TUC), Dr. Kwabena Nyarko Otoo said the conversion of the 5 percent National Health Insurance and GET Fund Levies into straight levies would have a negative effect on the public.

Members of the Chamber of Telecommunication Companies (CTC) announced their intention to review their tariffs, starting November 1, 2018, to reflect the new tax regime in the country.

The Chamber says the upward adjustment of charges follows the implementation of some new tax by government.

Under the new tax regime, manufacturers are entitled to 12 per cent out of their 17 per cent of Value Added Taxes (VAT) and denied the 5 percent output claims that they were initially entitled to.

State of the Economy

He observed that Ghana has a very strong economy with higher growth at the macro level but with low growth at the micro level.

He stressed the need for Ghana to support the private sector, to provide more jobs as part of efforts to translate the macroeconomic gains into households.

“The average Ghanaian needs access to good jobs in order to have access to decent wages and income,” he said.

Commenting on the state on economic hardship in the country, he admitted that times were hard and encouraged the public to live within their means .

By Linda Naa Deide Aryeetey