Gideon Ayi-Owoo, a tax expert at Deloitte Ghana, has raised concerns about the lack of tax reforms in Ghana’s import and export industry following the Finance Minister’s 2025 Budget presentation.
Speaking on ABC News GH, he highlighted the 22 different levies, taxes, and fees imposed on importers, calling them a major challenge for businesses.
“Unfortunately, we did not hear anything about it,” he said, expressing disappointment that the budget failed to address these burdens.
He also noted that while VAT reforms are expected later in the year, delays in implementation continue to increase costs for manufacturers and businesses, making them less competitive and limiting job creation.
Revenue Alone is Not Enough: Fixing Expenditure Leakages is Key
Beyond taxation, Ayi-Owoo emphasized that raising revenue should not be the only focus of government but rather ensuring that collected funds are used efficiently.
“Generating revenue for the economy is good, but we also have to look at the expenditure side,” he stated.
He urged the government to plug financial leakages, fraud, and inefficiencies, stressing that every cedi raised should have maximum value for the economy.
“All the leakages in our expenditure, fraud, and abuse should be looked at. Inefficient use of our monies raised must be tackled,” he added.
Tax Refund Reforms Must Balance Fairness and Fiscal Responsibility
On the issue of tax refunds, Ayi-Owoo acknowledged the government’s decision to cap refunds at 4% of total domestic revenue, a move expected to save GH¢3.8 billion for critical sectors such as infrastructure, healthcare, and education.
He noted that many Ghanaians are still waiting for their tax refunds and expressed hope that the new cap would be sufficient to meet legitimate claims. Meanwhile, Finance Minister Dr. Cassiel Ato Forson justified the cap, stating that it aims to curb abuse and excessive payouts.
He assured businesses that legitimate claims would still be honored while the Ghana Revenue Authority (GRA) strengthens audits to prevent fraudulent claims.
