Bawumia clarifies plan for tax amnesty and flat import duty rates

Mahamudu Bawumia has clarified his initiative to overhaul Ghana's tax system.

Bawumia described the current tax system as confusing, leading to difficulties in payment calculations and unnecessary harassment from tax officials.

"The current tax system is confusing, and traders struggle to calculate their payments.

Bawumia said that he would introduce a flat duty rate for containers, calculated in the local currency, to counteract the volatility of exchange rates and ensure competitive pricing.

"I am proposing a new, simplified, and transparent tax system.

If elected president, I will introduce this new regime in 2025, starting with granting tax amnesty to businesses to provide a fresh start and support for businesses.

"I will introduce a flat duty rate on containers, charged in cedis, ensuring predictability and reducing import duties significantly to match or be lower than Togo's rates," he stated.