Private Enterprise Federation (PEF), has begun a nationwide advocacy research into the Ghana’s tax regime and the need for reforms in the taxation of Micro and Medium-Size Enterprises (MSMES) in the country.
The research is to sample the views of private sector players to make informed suggestions to government on the negative or positive impact of the tax regime.
The PEF research became necessary following concerns raised by MMEs that the government was overburdening them with new taxes. But PEF said in order to confront the government with the issue, it must assess real challenges on the ground on a scientific
Ghana’s tax revenue, PEF said, mainly comes from the private sector and there is therefore the need for both the government and private sector to implement an ideal tax regime that will inure to the benefit of both government and the MSMEs.
The research will also enable PEF to group the private enterprises in accordance with what they do and deal with issues in that sector.
Mr. Nana Osei Bonsu, Chief Executive Officer of PEF, told PEF members at a day’s consultative meeting on tax reforms for domestic MSMES that the research is intended to find out from MSMEs how difficult it is for them to pay tax as private sector players in Ghana’s economy.
It will inform the federation to table issues affecting MSMEs. The findings according to Mr Osei-Bonsu will be brought together and put before the government- the president and the vice president who is the head of economic management team, for deliberations on recommendations with the position of the PEF members.
Explaining the essence of the meeting to Zaa News, the PEF CEO said there is the need for Micro and Medium-Size Enterprises to know why they are paying 25% income tax across the board.