
Audio By Carbonatix
Economist and Political Risk Analyst, Dr Theo Acheampong says government’s new imposed taxes are disproportionate and unequal to other segments of the society.
This according to him, is a challenge that ought to be addressed as a nation.
Speaking in an interview on Joy New’s Newsfile Saturday, he said government has done well in supporting Small Scale Enterprises (SMEs) in the hospitality and services sector by compensating them with tax deferrals although it has introduced new taxes into the system.
“For example there’s an extension on the payment of corporate income tax for 9 months for this year although even that you need to be in the tax paying position before you can actually pay corporate income tax in the first place.”
This, he said depicts that the measures of which taxes were imposed on Ghanaians are “disproportionate, they are unequal and it shows that the tax burden in this country is not evenly shared among the segment of the population.”
“I also teach tax a bit and Mr Terkpey would tell you, a couple of the key principles of taxation is efficiency and tax neutrality and when you look at a lot of the new taxes imposed, the dead weight loss is that big so at the end of the day, what you don’t want to do is to distort the economic decisions of individuals and firms because they really are the key to sustaining the economy even beyond government policy or government action,” he said.
According to him, fuel and energy is a key component in the productive of primary process in the country therefore an increase in energy related tax would dry up inflation as well as deepen inequality if government does not have any compensatory effect or compensatory policy action.
He added that the new imposed taxes would also tend to have that disproportionate impact the consumption related taxes.
Mr Acheampong noted that in times where the country is recovering from economic hardships, it is inappropriate for new taxes to be imposed but rather the need to support individuals and firms.
Latest Stories
-
President Mahama has not broken promise on anti-LGBTQ bill — Akwatia MP
26 minutes -
Education Minister promises swift fix to Aburi Girls’ SHS water crisis
33 minutes -
Top Australian soldier charged with war crimes to remain in jail on remand
49 minutes -
US journalist Shelly Kittleson released after kidnap in Iraq, officials say
50 minutes -
Starmer to visit Middle East after US and Iran reach ceasefire deal
52 minutes -
Telcos and regulators are failing Ghana on Mobile Money fraud
1 hour -
Discussions on petroleum taxes review ongoing with Finance Minister – Jinapor
1 hour -
BMW Club Ghana partners National Road Safety Commission for “Stay Alive” Easter road safety campaign
2 hours -
Health Ministry launches World Health Day 2026, urges science-based action
2 hours -
MMFL anchors MTN Group’s fintech push in Ghana
2 hours -
Ghana’s economy shows recovery signs, but risks persist – S&P maintains stable outlook
2 hours -
SWAG commemorates its 8th anniversary with a public lecture
2 hours -
Bekwai MP supports community projects with over 400 bags of cement, streetlights and cash during Easter
2 hours -
Ibrahim Mahama claims Police Commander failed to stop alleged assault
2 hours -
Damang lease award to E&P followed due process — Minerals Commission
2 hours