Ghanaian legal expert, Francis Timore Boi (Esq), has indicated that Ghana’s economy presently cannot bare another tax amnesty as proposed by NPP Flag bearer, Dr. Mahamudu Bawumia at the launch of New Patriotic Party’s manifesto.
The tax lawyer in a live interview on Happy 98.9FM’s Happy Kasiebor while sharing his views on Dr. Bawumia’s tax policy initiatives, described tax payment neglects as an act which is punishable by law in many countries
He indicated that there have been a number of tax amnesty exercises initiated by previous governments since 2006. “This is not the right time for a tax amnesty because we had one in 2006, another in 2012 which was followed by one in 2017 and others in 2021 and 2022.”
He explained that Ghana’s economy at this delicate stage unlike previous years will take a heavy blow should another tax amnesty exercise take place in 2025.
He added that due to the recurrent tax amnesty exercises that are brought in by new governments, many Ghanaians have gradually lost the necessity to pay tax. “Ghanaian traders who know this and know they must pay tax, can choose not to pay because after all when a new government comes, they believe they’ll be granted amnesty.”
Meanwhile, other tax initiatives proposed by Dr. Bawumia like the VAT reform and flat tax rate were commended by the expert as a step in the right direction for Ghana’s economy.
