Cement, fuel, industries should get ready to be hit with new taxes – Bright Simons

The Vice President of policy think tank, IMANI-Africa, Bright Simons, has reacted to the government’s introduction of new taxes in 2024.

Particularly, he touched on the government's new environmental tax that caters to emissions.

He noted that manufacturers would be slapped $8 tax for every ton of CO2 emitted in the process of manufacturers.

Bright “mocked” the Association of Ghana Industries for backing the government in its proposal for the Import Restrictions bills.

He wrote on X: “Remember AGI was recently praising govt of Ghana for the import restrictions list? Okay, their time has come. Govt is slapping ~$8 tax for every ton of CO2 emitted by manufacturers. Cement, fuel, steel, aluminum & all high-energy industries should get ready to be smacked!”

Bright Simons added that the Ghana Revenue Authority will be tasked to measure the level of CO2 and tax the companies accordingly.

“Oh, & GRA will be doing the measuring. You will be in your factory like that & they will show up with the measuring device & industry reference charts, & a nice smile pregnant with meaning. Like: Aban nsa aka wo. Why, you thought it was going to be Al Gore's Climate Trace?” he added.

Bright also added that some large manufacturers like GHACEM and others could be paying up to $24 million in taxes when these new taxes take effect.

He said: "If GHACEM, Ghana's largest cement corp, with ~50% share, continues hitting its 3 million tonnes a year target, it will face new taxes of $24m a Yr if Ghana strictly enforces the new carbon taxes it is introducing. If the Kumasi plant comes onstream, carbon taxes = $36m.
AGI dey?"

The Minority Leader and Member of Parliament for Ajumako-Enyan-Esiam, Dr Cassiel Ato Forson, shared a list of new taxes supposedly being introduced by the government in the coming year.

The MP in a post shared on X, on Sunday, December 3, 2024, showed portions of a tax bill the government supposedly wants parliament to approve.

According to him, the new taxes the government is seeking to introduce include a 20% tax on local gin popularly known as ‘akpeteshie’.

The other taxes the government was seeking to introduce include a GH¢100 per vehicle annual tax on all petrol and diesel cars.

“The Akufo-Addo/Bawumia government is imposing 20% tax on “akpeteshie” (they have run out of ideas). Petrol and diesel vehicle owners should also expect to pay a new annual tax of GHS100 per vehicle on all petrol and diesel cars (internal combustion engine vehicles).

“This tax will be imposed on all trotros, aboboyaas, okadas, taxis, commercial buses, trucks, ambulances, construction and heavy-duty vehicles, water tankers, private cars, etc. Once your vehicle is powered by petrol or diesel, the government is imposing this tax on you. According to the government, this policy is aimed at promoting the use of cleaner/more eco-friendly sources of energy (like electric vehicles),” he wrote.

The documents also show that the government is seeking to introduce a GH¢100 per tonne of carbon dioxide emission tax on all companies in the country.

SSD/NOQ

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