Ivor Greenstreet jabs gov’t over increment in talk tax, tax holidays for foreigners

The 2016 presidential candidate for the Convention People’sParty (CPP), Ivor Kobina Greenstreet has said the increment in the communication talk tax will hurt Ghanaians.

The politician in a write up noted that the system was already fraught with serious challenges and harsh economic conditions Ghanaians were encountering and the increment will only worsen their plight.

In his view, supporting the vibrant sector which generated 420 million, representing an increase of 27.7 percent was far important than the tax increment.

“The sector is clearly a vibrant and growing one. The amount generated from the communications service tax (CST) was 4.56 percent more than the projected ¢401.8 million in the 2018 mid-year budget.

“We all know taxes are important but surely supporting this sector to be more vibrant and thereby create more needed jobs through the activities of local entrepreneurs is more important. Government could then use the gradual increase in revenue to carry out its objectives of fighting cyber-crime, protecting users of information technology, combat money laundering and other financial crimes, ” he noted.

He has suggested to government to scrap tax holidays for foreign companies saying: “Cost of living and business is already too high. Government should rather abolish tax holidays for foreign companies and earn more from the super-exploitation of our natural resources of gold/oil etc. by multi nationals who take the money abroad.”

Read his full piece below

Strategic Conversations held with a number of individuals and small local businesses this past week has confirmed my belief that the recent 50% increase in the communication/talk tax is going to really hurt and tighten the screws on already harsh economic conditions. 

Last year, tax revenue collected from consumers for using communication services in the country reached ¢420 million, representing an increase of 27.7 percent.The sector is clearly a vibrant and growing one. The amount generated from the communications service tax (CST) was 4.56 percent more than the projected ¢401.8 million in the 2018 mid-year budget.

We all know taxes are important but surely supporting this sector to be more vibrant and thereby create more needed jobs through the activities of local entrepreneurs is more important. Government could then use the gradual increase in revenue to carry out its objectives of fighting cyber-crime, protecting users of information technology, combat money laundering and other financial crimes. 

Cost of living and business is already too high. Government should rather abolish tax holidays for foreign companies and earn more from the super-exploitation of our natural resources of gold/oil etc. by multi nationals who take the money abroad.

#StrategicConversations

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