Vice President of Ghana, Dr Mahamudu Bawumia, has promised to grant tax amnesty to businesses that owe tax arrears if given the political mandate in 2024.

He said this would afford businesses to start afresh and encourage the filing of taxes.

“To start the new tax system on a clean slate, my government will provide a tax amnesty (i.e. a complete exemption from the payment of taxes for a specified period and the waiving of interest and penalties) up to a certain year to individuals and businesses for failure to file taxes in previous years so that everyone will start afresh,” he said  

Dr Bawumia made this pledge while addressing Ghanaians on Wednesday, February 7.

Dr Bawumia, also, the flagbearer of the New Patriotic Party (NPP), stated that his government will introduce a business-friendly flat tax for individuals and businesses with appropriate tax thresholds to protect the poor.

“My administration will introduce a very simple, citizen and business-friendly flat tax regime. A flat tax of a % of income for individuals and SMEs (which constitute 98% of all businesses in Ghana) with appropriate exemption thresholds set to protect the poor,” he added. 

He assured citizens that these tax regimes would simplify the complicated corporate tax system and Value Added Tax (VAT).