Executive Secretary of the American Chamber of Commerce, Ghana, Simon Madjie, has called on the Ghana Revenue Authority (GRA), to adopt a business-friendly approach to its taxation of businesses.
According to him, the disposition of the GRA in its dealings with businesses is quite troubling. He indicated that the Authority must be prudent in dealing with these businesses as they understand what their responsibilities are to the Authority.
“Our concern has been that we are really encouraging the GRA to really take a business-friendly approach to taxation. I mean, we concede and stand by the fact that revenue mobilization is essential to get the country out of these current economic challenges. Our members are largely in the formal sector, they go about paying their taxes and so the perceived posturing and the perceived predatory of the GRA officials is really of big concern to them and that’s how come we had to put it out.”
Simon Madjie
Describing what a typical “business-friendly approach” is, Mr Madjie revealed that it is a known fact that the GRA works with these companies and for many years, these businesses understand the business models and are conversant with what to do. Owing to this, he explained that a solid engagement between the two parties is preferred on any matter worth deliberating.
“We are also convinced that sometimes the media publications about the tax engagements, [where] some of these companies are listed, if f not handled well, may have significant impact on the operations here or on the operations in other parts of the world as well. So, that’s very important for us and that’s what we want them to be. We want more of partnership and more of engagements in dealing with these issues than putting it out there and creating all the problems that come with it.”
Simon Madjie
Addressing economic challenges
Commenting on the statement released by the Bilateral Chambers of commerce challenging government to address the current economic challenges and harassment of its members by officials of the Ghana Revenue Authority, Mr Madjie stated that his members like every other business is concerned about the economic situation in the country. However, he firmly believes that the solution to the economic situation in the country is for the private sector to play a leading role in generating the economic value required to get Ghana out of its economic crisis.
“So, that has been our position. We’ve been affected like every other business by the situation in the country. But we are firmly convinced all of us could get Ghana out of this economic problem.”
Simon Madjie
Mr Madjie revealed that the Chamber is optimistic about President Akufo-Addo and the government’s bid to ensure an IMF deal is reached this month. He noted that the Chamber appreciates the fact that the government is doing its possible best to address the problems in the country.
“… We think that the country is on the right path [and] our engagement with IMF is also on the right path. We believe that once we get the deal, the country could get some breathing space and the private sector can just play a major role in delivering the values that is required to get out of this problem. So, we are very confident about that.”
Simon Madjie
On the issue of the cedi’s volatility, Mr Madjie expressed confidence in the ability of the Bank of Ghana to stabilize the local currency. He revealed that the Central Bank is really working to get the cedi stabilized and the Chamber firmly supports its endeavors.
“… What we are however calling on the Bank of Ghana to do is to lay out all the modalities for the cessation of providing forex for the imports of certain critical goods in the country. We will be happy to engage with the Bank of Ghana on that one and we fully support those efforts as well.”
Simon Madjie
