The New Patriotic Party\u2019s running mate, Dr. Mahamudu Bawumia has reiterated his party\u2019s resolve to repeal what\u00a0he describes as \u201cnuisance\u201d taxes.<\/p>\n
Dr. Bawumia has for sometime now waged a\u00a0campaign against some taxes introduced by the governing National Democratic Congress (NDC).<\/p>\n
[contextly_sidebar id=”Ol4bAFey2OwbI7ZKQUE5azQRA33lkW2Y”]Speaking to Bernard Avle on the Citi Breakfast Show<\/strong> on Friday, Dr. Bawumia said scrapping some of the taxes will be a non-negotiable move under a Nana Akufo-Addo government.<\/p>\n Capital gains too high<\/strong><\/p>\n \u201cUnder a Nana Akufo-Addo government, you are going to see us put together the most business and people friendly economy on this continent. It\u2019s very clear and we\u2019ve been very consistent on what we want to do and some of the taxes that we say will come down. Corporate taxes we want to bring down for sure. The capital gains taxes are too high, the tax on financial services doesn\u2019t make sense, the tax on bringing solar panels to Ghana doesn\u2019t make sense when we want to solve an energy problem. We are going to take away what we call some of these nuisance taxes.\u201d<\/p>\n We’ll reduce rates of some taxes<\/strong><\/p>\n He further clarified that they will reduce the rates on some of the taxes while \u201cfor some we are going to repeal all together.\u201d<\/p>\n Dr. Bawumia listed some of the taxes that will be repealed by an NPP government saying\u00a0\u201cthe VAT on financial services has to go, there is no reason why we should be taxing import duty on solar panels for example and raw material for production. We will take them out as far as import duty is concerned to give the private sector more incentives to produce. So we have a different philosophical approach to these taxes.\u201d<\/p>\n The NDC government led by President John Dramani Mahama has been criticized for introducing “killer taxes” in the country.<\/p>\n Developed countries scrap taxes<\/strong><\/p>\n According to the NPP running mate, developed countries had to scrap a number of taxes to enable the private sector to turn their economies around for the better.<\/p>\n \u201cIf you look at history and look at the main countries that have industrialized, to the 1400 in England, 1700 in the United States and Germany, England, these are the sort of incentives they used to progress.\u201d<\/p>\n –<\/p>\n By: Godwin A. Allotey\/citifmonline.com\/Ghana
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