Real businesses the world over do not need government handouts via lower taxation if there is lack of infrastructure. India, China, South-East Asian nation, Brazil etc have become emerging market nations because of profound i ... read full comment
Real businesses the world over do not need government handouts via lower taxation if there is lack of infrastructure. India, China, South-East Asian nation, Brazil etc have become emerging market nations because of profound improvements in their infrastructure that has allowed multi-national companies to either relocate to those countries and or setup shops there.
What Ghana needs is an efficient and effective tax collection system to help the national government take in revenues to invest in roads, bridges, drainage systems and above all a telecommunications infrastructure that will bring every business and potential business to come closer to the people the world over. It is when we have met these needs the government can start reducing the tax rates for businesses to be additionally competitive. Would a company like 3M or an auto industry relocate or setup shop in Ghana? Absolutely not because we do not have adequate roads and or rail neither do we have dependable and secured telecommunications system that would allow them to be in touch with the world outside Ghana whenever they needed to. Are companies supposed to run on water or on a continuous reliable electricity supply? The things we need to do to grow real industries in Ghana must come first with manufacturing of real and tangible products.
The entire nation of Ghana has been turned into a dumping ground of manufactured goods from all over the world. Every residential neighborhood in Ghana is full of stores and kiosk with everyone buying goods and merchandize from China, the Middle East and South Africa to be sold in Ghana. These are not business that require lower taxation; they are a drain on Ghana's foreign exchange reserves. They are also the source of the underground economy that deprive the government of real revenues since most businesses in Ghana do not and have never paid real taxes covering their actual incomes or business revenues. Let us stop promoting fantasy economic ideas that only drain the national coffers while making a very tiny few rich. Show me a nation/country where there is nearly zero unemployed citizens and I will show you a nation/country with absolute zero crime. Sustainable employment will not come from petty trading and the buy and sell business activities in Ghana.
kotoko fan 10 years ago
Your arguement that lower taxes is a bad idea for economic growth is seriously wrong. Lower taxes helps companies to be more profitable therefore more investments leading to better employment prospects.
A country can have ... read full comment
Your arguement that lower taxes is a bad idea for economic growth is seriously wrong. Lower taxes helps companies to be more profitable therefore more investments leading to better employment prospects.
A country can have automobile assembly plants and export the assembled products to other countries with limited roads just like South Africa. An african country does not need all the highways found in Europe or the USA in order to have an automobile, refigiration or giant electronics assembly plants.
An example like GIHOC electronics did very well in the 60's till the 80's when lack of capital to invest in new products collapsed the company.
lower taxation is not a government handout, afterall it is not the government paying the tax to the private sector, Rather it is the other way round. Let Ghana government reduces corporate and other taxes and Abeeku will see the boom to businesses and other forms of infrastructural development in Ghana.
I am all the way for lower taxation.
km agyin 10 years ago
Tax incentives will go a long way to accelerating our development. Private people and companies will build the roads when government does not have the money to do it at that time. Tax incentives will also encourage the rich t ... read full comment
Tax incentives will go a long way to accelerating our development. Private people and companies will build the roads when government does not have the money to do it at that time. Tax incentives will also encourage the rich to philanthropic acts. Bill Gates is doing so much for the world because of tax incentives given to him for those acts.
Real businesses the world over do not need government handouts via lower taxation if there is lack of infrastructure. India, China, South-East Asian nation, Brazil etc have become emerging market nations because of profound i ...
read full comment
Your arguement that lower taxes is a bad idea for economic growth is seriously wrong. Lower taxes helps companies to be more profitable therefore more investments leading to better employment prospects.
A country can have ...
read full comment
Tax incentives will go a long way to accelerating our development. Private people and companies will build the roads when government does not have the money to do it at that time. Tax incentives will also encourage the rich t ...
read full comment