President of the Ghana Union of Traders’ Association (GUTA), Dr. Joseph Obeng, has advised the government against introducing new taxes ahead of the March 11, 2025 budget presentation,
In an interview Dr. Obeng indicated that the trading community do not expect any new taxes to be introduced by the Finance Minister.
He reiterated the adverse effects of overburdening businesses with taxes and warned the government against introducing any policy that would further burden traders.
While opposing new taxes, Dr. Obeng urged the government to expand the tax net to include individuals and businesses that currently do not pay taxes, ensuring a fair and balanced tax system.
“We’re not expecting new taxes. We’re also not going to be worried when new taxes are tailored to bring in people outside the tax net to pay. That one, we will not be worried. But what we will be worried about is just compounding the taxes on a few of us who pay.
“Expanding the tax net is welcomed. And whichever means they do to rope in a lot more people who are outside the tax net to come in is also a welcome news.”
Dr Obeng commended the finance minister for his engagement with the traders.
“It’s the best thing to do. It gives me hope; it’s very worthwhile and refreshing, and I’m happy about that. It’s the best thing that could ever have happened to us, and we’re very grateful.”
Finance Minister Dr. Cassiel Ato Forson has engaged market women, head porters (kayayei), and other traders at the Makola Market to discuss their concerns and expectations ahead of the 2025 Budget presentation on Tuesday, March 11, 2025.
In a Facebook post on Saturday, March 8, Dr. Forson described the interaction as a privilege, while acknowledging the vital role these traders play in sustaining Ghana’s economy.
Accompanied by his deputy, Thomas Nyarko Ampem, the discussions focused on key economic challenges affecting small-scale traders, including inflation, taxation, and access to credit.
“Their expectations ahead of #Budget2025 on Tuesday, March 11th will help shape our shared future,” he wrote.
Dr. Cassiel Ato Forson has already presented the 2025 Budget to Cabinet for scrutiny, ahead of its presentation to Parliament on March 11.
The Cabinet meeting, chaired by President John Mahama, unanimously approved the budget.
Dr. Forson emphasized the need for expenditure cuts due to the current economic challenges.
The government has already pledged to remove some levies, including the betting tax and e-levy.
