Politics

Talk, holiday taxes fraught with challenges – Ivor Greenstreet

Ivor Greenstreet, the 2016 Presidential Candidate for the Convention People’s Party (CPP), has observed that the increment in the communication/talk and holiday taxes will hurt the citizenry because they were already fraught with challenges.

He explained that  the harsh economic conditions Ghanaians were encountering and the increment would only worsen their plight, and there was the need in supporting the vibrant sector which generated GHȼ420 million, representing an increase of 27.7 per cent, was important than the tax increment.

In a statement issued in Accra yesterday, Mr Greenstreet noted that the sector was vibrant, growing and developing, amount generated from communications service tax was 4.56 per cent more than projected GHȼ401.8 million in 2018 mid-year budget.

“We all know taxes are important, but surely supporting the sector to be more vibrant creates jobs through activities of local entrepreneurs, the government can use gradual increase in revenue to carry out objectives of fighting cyber-crime, protecting users of information technology, combat money laundering and other financial crimes.

“I suggest to the government to scrap tax holidays for foreign companies since cost of living and business is high, should abolish tax holidays for foreign companies to earn more from super-exploitation of our natural resources by multi nationals who send earnings abroad.

“Strategic conversations held with number of individuals and local businesses have confirmed my belief recent 50 per cent increase in communication/talk tax will further inflict harsh economic conditions, however, taxes are important in supporting the sector to be vibrant to create more jobs through activities of local entrepreneurs.

“Cost of living and business are already high, the government, should rather abolish tax holidays for foreign companies to earn more from super-exploitation of our natural resources by multi nationals,” the statement cautioned. –rainbowradioonline.com

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