Gideon Ayi-Owoo, a tax expert at Deloitte Ghana, has expressed disappointment over the absence of tax reforms in Ghana’s import and export industry following the presentation of the 2025 Budget by Finance Minister Dr. Cassiel Ato Forson.
Speaking on ABC News GH, he highlighted the burden of excessive import taxes on Ghanaian businesses, pointing out that “import taxes are one of the main worries for Ghanaian business importers.”
He noted that the industry currently faces over 22 different levies, taxes, and fees, yet no reforms were mentioned in the budget. “Unfortunately, we did not hear anything about it,” he remarked.
Ayi-Owoo also discussed the upcoming reform of the VAT system, which he hopes will take effect this year.
“VAT is another area adding cost upon cost, making manufacturing and general businesses uncompetitive. As a result, they struggle to grow, expand, and employ more people,” he explained.
On government revenue generation, he stressed that while raising revenue is important, addressing expenditure inefficiencies is equally crucial.
“It shouldn’t always be about raising more revenue but ensuring that whatever amount is raised goes a long way. All the leakages in our expenditure, fraud, and abuse should be looked at. There’s inefficient use of the monies we raise,” he stated.
On the topic of tax refunds, Ayi-Owoo acknowledged concerns among Ghanaians regarding delayed reimbursements and expressed hope that the government’s new 4% cap would provide relief.
“A lot more Ghanaians are still asking for their tax refund. Hopefully, the 4% should be enough to cater for Ghanaians who go to ask for a tax refund,” he said.
The government announced the cap to curb abuses in the tax refund system, saving GH¢3.8 billion for critical investments in infrastructure, healthcare, and education. Dr. Forson assured that the Ghana Revenue Authority (GRA) will enforce stricter audits and expand digital tax tracking to improve efficiency and transparency.
