The convener of the Coalition of Small Business Owners (CSBO), Mr. Justice Ayeh Donkor has called the government to introduce tax reliefs in the Mid-Year budget review.
“In supporting the position of the Ghana National Chamber of Commerce and Industry (GNCCI), the Government should consider the introduction of tax reliefs in the upcoming 2023 Mid-Year Budget Review as a means of cushioning the suffering and struggling businesses in the Country”.
He also urged the Ministry of Finance to remove the 20 per cent and 10 per cent taxes imposed on the revenue of lottery marketing/sports betting companies and winnings respectively as they were undermining the growth, performance and revenues of Private Sector led businesses.
Mr Ayeh Donkor noted that the Parliament of Ghana on March 31, 2023, passed the Income Tax (Amendment) Bill which President Akufo-Addo assented it into law.
He said among other things, the new income tax law re-introduced a 10 per cent tax on lottery winnings after it was successfully removed in 2017, and a new 20 per cent tax on the revenue of Lottery/Sports Betting Companies.
This Mr Ayeh Donkor said was an additional burden on the already over-taxed Private Companies in Ghana.
