The Association of Ghana Industries (AGI) has expressed sentiment on the new government’s announcement on the reduction of taxes in the 2017 budget for financial services. The tax cut included reduction and relief on taxes in sectors such as real estate, pharmaceuticals, and airline tickets.
According to Volta and Eastern Regional Chairperson of the Association of Ghana Industries – Madam Bless Neriah, the reduction of the taxes is a “dream come true.” She said “This is a dream come true. We can’t express our joy and I think we have to march on the roads with happiness.” Furthermore, the association mentioned that high taxes from previous government had caused havoc to many micro, small, and medium scale enterprises (MSMEs) and thus, the new move by the new government to cut taxes will immensely benefit the industrial sector. Additionally, the Volta and Eastern Regional Chairperson of AGI highlighted that startups and new businesses could be exempted from taxes to aid entrepreneurs and new MSMEs to spur in the country while strengthening efforts to eliminate the sale of inferior products on the Ghanaian market.