The Ghana National Chamber of Commerce and Industry (GNCCI) is building the capacity of its members on how to manage shocks in the wake of economic hardships.

The move according to the chamber is to expose their members to the opportunities amidst the current turmoil.

Speaking to Joy Business, Greater Accra Chairman of the GNCCI, Nana Agyenim Boateng, implored government to consider reducing some of the nuisance taxes and institute policies that will reduce the cost of doing business in the country.

“Some of the things we will call for government is the taxes in clearing goods at the ports. Specifically, you pay Covid-19 recovery tax, you pay disinfectant tax, AU and ECOWAS Levy”.

“You know some of these things can be looked at in this crucial moment that businesses are suffering so that the cost of doing business can be reduced”.

On his part, Greater Accra Regional Manager of GNCCI, Daniel Osei Torgbor, expressed concerns about the nuisance taxes businesses are paying, and urged government to consider reviewing the taxes.

“In terms of the tax cut, the chamber has spoken about the need for the VAT rate be looked at again. And especially the E-levy is an area the government can look at, reducing the rate because it is one of the reasons the E-levy has not been successful”.

“So if the government can look at the rate moving it away from the current rate, probably looking at 0.5% to 1%. These are rates that businesses and individuals can be comfortable doing their transactions with”. 

Meanwhile, Associate Director at Deal Advisory Unit, KPMG, Evans Asare highlighted some strategic business areas firms need to consider in the current economic situation.