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Announce cancellation of some major taxes in 2024 fiscal year- FABAG
The Food and Beverages Association of Ghana (FABAG), has called on the government to announce the cancellation of some major taxes in the 2024 fiscal year budget, expected to be presented by the Finance Minister, Mr Ken Ofori-Atta, on the floor of parliament next month.
According to the Association, the private sector is terribly underperforming due to the high cost of doing business and lower sales volumes, following the over-taxation of the sector, hence, the immediate removal of the Covid-19 levy, as well as reduction of VAT and some “nuisance taxes”.
The Executive Chairman of the Association, Mr John Awuni, addressing pressmen yesterday in Accra, said, the private sector should be relieved of some of the burdensome taxes, either in the form of corporate tax, consumption taxes, or income tax.
“The government stands to rake in more revenue for development if taxes are reduced and some cancelled. Currently, prices of goods and services are very high, which is consequently reducing the demand for goods and services.
Considering the level of low wages and salaries in the country, the government can trigger higher demand for goods and services in the private sector if taxes are reviewed downwards,” he said.
For instance, Mr Awuni said, the price of evaporated milk which is currently sold for GH¢15, could be bought for GH ¢8.5 without tax, adding the price of beer which is GH¢11 could be bought for GH¢5 when the tax on the product is removed.
“Higher taxes are a major killer of businesses. Ghana has tried the option of higher taxes for decades and yet our economy keeps failing, it is time to try the option of tax net expansion, with lower taxes and scrapping unfriendly levies and duties, and business-friendly taxes in the 2024 fiscal year.
And when businesses fail to operate at their optimum level, they are unable to enjoy the benefits of economies of mass scale production,” Mr Awuni said.
He added that China is doing much better due to the benefits of mass-scale production their private sector is enjoying.
BY BERNARD BENGHAN
Ghana’s parliament has marked the 2nd edition of May Day 2026 under the theme “ Welcome Home”.
It was special day meant to celebrate the invaluable support of the workforce, recognizing the commitment, resilience, and contributions of workers to institutional growth and national development.
Delivering the message on behalf of the Speaker, the 1st Deputy Speaker, Bernard Ahiafor, described the theme as very apt, appropriate, and timely, noting that Parliament is more than a workplace, it is a shared home.
He emphasized that we cannot speak about work without speaking about people, reminding everyone that the true measure of our work is the well-being of our people.
He urged that our traditional clothing become an integral part of our everyday clothing, and that our local languages must become integral to our daily lives, interwoven into education and practiced at home.
Referencing Standing Order 63, which captures the use of local language as optional in deliberations, he encouraged a renewed commitment to identity, saying it is significant that we “come home” and present who we are so future generations can inherit a story they can fully tell.
The Clerk, Mr. Ebenezer Ahumah Djietror, in his remarks commended officers for their dedication and devotion to duty, calling on them to go the extra mile and leave legacies.
Echoing the reminder that an unexamined life is not worth living, he described the event as an invitation to reconnect with our roots through cultural revival.
The Deputy Clerk, C&FMS, Dr. Gloria Sarku Kumawu, urged all not to forget their roots, the people behind the stories of ministries, industries, and the strides made both in-house and beyond.
What began last year has now become a meaningful tradition, showcasing Ghanaian heritage, fostering unity, and encouraging innovation under the principle of diversity for unity and diversity for progress, she added.
The gathering brought together leadership, public officials, and staff across all levels, along with the media, standing as a unifying platform that honored service, celebrated culture, and reaffirmed a shared commitment to national development.
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Manhyia would serve as Ghana’s unifying force …Otumfuo assures on commemoration of 27 years on the Golden Stool
The Asantehene, Otumfuo Osei Tutu II, last Friday celebrated his 27th enstoolment with a colourful and culture-rich ceremony at the Manhyia Palace in Kumasi, drawing a distinguished gathering of dignitaries from across Ghana and beyond.
Clad in splendid kente and adorned in rich traditional regalia, the dignitaries added colour and elegance to the occasion, as the palace grounds came alive with a vibrant display of Ghanaian culture.
Traditional drumming, dancing and symbolic rites underscored the deep-rooted heritage of the Ashanti Kingdom, captivating guests and reaffirming the value of tradition in modern society.
Speaking at a high-level Executive Gala organised by the Diaspora Affairs Office of the Office of the President in strategic partnership with the E ON 3 Group, the ‘World-Meets-in-Ghana’ gala, the Asantehene urged Ghanaians to guard against the divisive tendencies of partisan politics.
The event was to honour the Asantehene’s nearly three-decade reign under the theme ‘Advancing Peace and Sustainable Economic Development through Royal Vision’.
Otumfuo Osei Tutu II noted that such attitudes threatened the country’s long-standing values of unity, civility and brotherliness.
He assured that Manhyia would continue to serve as a unifying force for the nation.
The celebration also featured the presentation of commemorative gold coins to notable national leaders, including the President, John Dramani Mahama, former Presidents John Agyekum Kufuor and Nana Addo Dankwa Akufo-Addo as well as Dr Mahamudu Bawumia, a former Vice President in recognition of their contributions to peace and national development.
By Spectator Reporter
