Advocacy group and research think-tank Center for Freedom and Accuracy says the government is slowly killing businesses with the persistent increase in taxes as a way of raising more revenue.

According to the CFA, recent hikes in import duties, fees and levies as well as this week’s utility tariff increases are collectively stretching most businesses to breaking point.

Executive Director, Andrew Awuni was speaking to Joy Business after it released a statement on Ghana’s business environment.

“The long term effect is that it could affect growth and could also affect even revenue generation. If you use increases in taxes as a strategy to raise more money, yes it may work, but the other possibility is that when those businesses are not able to withstand the shocks and go down then you lose altogether.

“The business environment is deteriorating, the business environment is becoming less and less attractive,” he lamented.

Source: Joy Business/Myjoyonline.com/Ghana

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