Experts charge gov't to consider SMEs in tax policy

Experts charge gov't to consider SMEs in tax policy
Source: Ghana | Myjoyonline.com | Ebenezer Sabutey | Joy Business
Date: 19-05-2017 Time: 06:05:22:pm
Sam Brandful, Manager of Invest In Africa (IIA)

Invest In Africa (IIA) and Ernst and Young (EY) have advised government to consider reducing the number of tax burdens on the Small and Medium Enterprises (SMEs) to allow more entrepreneurs into the sector.

In an interview with Joy Business, Ghana Manager for IIA, Sam Brandful, said this is very critical because Ghanaian entrepreneurs can help grow the economy when given the opportunity.

He made the remarks in an interview on the sidelines of a two-day tax training workshop organized for 120 SMEs in Accra.

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IIA organized a tax training in collaboration with Ernst and Young Africa as part of contributions to the growth of SMEs in Ghana.

During the training, Lead Tax Partner for EY, Robin Maccone urged government to simplify the tax collection methods in the country in order for SMEs to pay without hassle.

Robin believes that with a simplified tax collection system, many Ghanaians who evade tax will be compelled to pay.

“We have to make tax payment in this country simplified and decentralised as a new measure for SMEs to be encouraged,” he noted.

The seminar is a feedback from last year’s Business Forum organized by IIA under the theme “creating thriving businesses through taxation and quality standards”

“We are committed to let SMEs understand the need for paying the right taxes as our contribution to economic growth” Robin added.

SMEs engaged with experts from EY and Ghana Revenue Authority (GRA) on how to improve their business through the use of relevant information on the benefits of taxation.

IIA is a cross-sector partnership of companies with the vision to create thriving African economies.

Working with both private sector companies and public organizations, IIA effectively identifies and tackles the challenges of doing business in Africa, delivering more impactful, cost efficient solutions and supports access to skills, markets and finance. 

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