Applauding Ghana Reforms: Taxation Economy vs Production Economy

Ronal Reagan

JF-Expert Member
Nov 4, 2010
5,299
3,055
Greetings Great Thinkers!

President of Ghana Nana Akufo-Addo, 73, of NPP party who was inaugurated on 07/01/2017 has embarked on a remarkable journey to revolutionize and reform the economy and the whole direction of Ghana in global context.

He envisioned to build the most competitive and attractive business friendly economy and the mostly people friendly economy in Africa.

Here's the link/clip

He thus, bravely launched his journey by doing the below:-

1) He have abolished VAT on sales of real estates!

2) He have abolished VAT on financial services!

3) He have abolished VAT on sales of shares in Stock Exchange!

4) He have abolished import duty on spare parts!

5) He have abolished 1%import levy!

6) He have abolished VAT on domestic airline tickets!

7) He has significantly reduce the VAT on small traders from 17.5% to just 3% flat rate!

8) They (Ghana) are currently in negotiations with ECOWAS under the common import tariffs in order to abolish all import duties on raw materials and machinery imported to Ghana.

9) They aspire a program ONE DISTRICT ONE FACTORY, and they have 216 districts.

10) They recognize and pursue bilateral and global agreements; partnerships and beyond as are in the context of the business world.

11) His government will endeavor to create and build the attractive and conducive environment for businesses to flourish hence achieve the goal of 1 district 1 factory. Such stability and flexibility on policies and laws for mostly business friendly economy!

President Nana Ado and his government are bold, smart, articulate and God willing they will be a future benchmark and a remarkable example for each one of us. I'm a proud African for such a leadership!

May God bless him and his Ghanaian citizens to execute the vision and reap the pending benefits.
 
Employees/employment taxes, be it in whatever form, are notoriously high world over. They tend to be higher and a little bit unfair. In France e.g. it's +40%!
 
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