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The Ghana Union of Traders Association (GUTA) has urgently demanded the immediate repeal of the recently enforced 5% Excise Tax on plastic manufacturing firms across the nation.
This plea arises amidst escalating worries regarding the financial sustainability and competitive advantage of domestic enterprises within the plastic manufacturing domain.
In an official statement, GUTA expressed profound astonishment over the government’s decision to introduce what it terms a ‘nuisance tax’ during these economically challenging times.
“We refuse to believe that the government is indifferent to the struggles faced by both the business community and the people of Ghana by imposing such a tax on plastic producers, particularly amidst the current instability of our local currency, coupled with escalating utility tariffs and a multitude of other taxes burdening businesses,” the statement conveyed.
GUTA also scrutinized the government’s commitment to fostering industrialization and advancing import substitution, questioning the rationale behind implementing taxes that obstruct these objectives.
“What logic does it serve at this juncture, when the government claims to prioritize industrialization, advocates for import substitution, yet concurrently imposes such detrimental taxes on local manufacturers, potentially crippling businesses already suffocating under an unbearable tax regime?” the Association queried.
The Association appealed fervently to the government to swiftly rescind the excise tax, aiming to alleviate the economic hardships faced by Ghanaians.
