Multinational companies leaving Ghana due to high taxes – Tax partner

Tax Partner at PwC Ghana, Abeku Gyan-Quansah, has bemoaned the high taxes Ghanaian businesses have been saddled with.

He revealed that due to the high level of taxes, some multinational companies are leaving Ghana.

“What we have picked up based on our work is that some of these firms have changed their business models by moving core operations outside Ghana to deal with the challenge [high taxes],” he said as quoted by myjoyonline.com.

Gyan Quansah explained that these businesses are leaving the country to produce and export back to Ghana.

“Some of these firms have moved their operations outside and are just exporting to the country,” he stressed.

He also intimated that the high taxes are the government’s plans it submitted to the International Monetary, not an imposition by the Fund.

“This is rather government’s own programme that it submitted to the IMF on how it intends to turn around the economy. When you go through Article IV, the consultation report put together by the IMF, one can count about 27 tax measures to help improve Ghana’s revenue situation,” he explained.

SSD/NOQ

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