Local businesses have appealed to government to reconsider the amount of tax they have to pay. The Chief Executive of Magvlyn Industries who made the call during the MyBusiness 2010entrepreneurial program Monday said the 25 percent corporate tax levied on local businesses is too high. According to Magnus Nunoo the tax is quite unfriendly especially for startup businesses. “I start off my business, and then I register as a sole trader or a limited liability company, I don’t receive any subsidy and then you have flat tax rate 25 per cent corporate tax…this are must be looked at,” he said. “The government must help grow the local businesses. They can’t charge the same tax with the local companies,” he stressed. The finalists taking part in the mentorship programme were alarmed at the corporate taxes and asked government to seriously look at creating a truly enabling environment for them to survive. All ten mentees appeared highly impressed by the lecture. Magnus Nunoo spoke on “Managing to survive the Ghanaian business environment” and how he has managed to build a solid water packaging company with more than four hundred employees in 13 years. Meanwhile the Private Enterprise Foundation has agreed startups need to be given special consideration. Beyond their privileges however, its Executive Director Dr. Boeh-Ocansey wants government to strictly monitor whatever privileges it gives foreign firms who come to do business in the country. Source: Joy Business/Ghana