Kumasi traders lock up shops to protest against cedi depreciation, other taxes on businesses

Some traders in the Ashanti regional capital, Kumasi have on Monday, October 10, 2022 locked up their shops in protest of the free fall of the local currency - Cedi, high cost of doing business, collection of exorbitant taxes by government, among others. According to the traders within the central business district, the demonstration will last for three days. They explained that the protest also aims at kicking against the decision by the Ghana Revenue Authority (GRA) to station their officers at each shop to record Value Added Tax (VAT) on products they sell. “We want the government to come and dialogue with us. The cost of doing business is high due to tax and the Cedi performance. We have been using our profit margins to pay tax which is not fair,” a trader told TV3. Most of these traders partaking in the demonstration deal with food commodities, among others. The traders are however calling on government to reduce the taxes on businesses. Meanwhile, traders within Magazine, Sokoban wood factory are expected to join the ongoing protest. ESA