The Ghana Union of Traders Association (GUTA) has threatened more protests across the country if traders’ concerns are not addressed.
This statement comes after traders in the Ashanti Region locked their doors on Monday to protest what they perceived to be exorbitant taxes imposed on their businesses, as well as the cedi’s rapid depreciation.
As they comply with tax regulations, the traders claim that taxes and a weak currency are crippling their businesses.
Dr. Joseph Obeng, National President of GUTA, who has been reacting to the development, has declared the association’s support for their Kumasi traders.
“Initially, we were managing our frustration, but now our frustration has turned into anger, which is reflected in the business community.” This is only the beginning, as others will follow. If I listen to our members’ cries, it means that much more is on the way, and it will be massive.”
According to the Bank of Ghana, the Ghana cedi has depreciated by 37.5% against the US dollar as of the end of September 2022.
The dollar is currently trading at slightly more than GH11 to $1.
Also read: A/R: Nana B challenges GRA over tax collection approach
The traders are also protesting the Ghana Revenue Authority’s decision to station officers at each shop to record Value Added Tax (VAT) on the products they sell.
The affected shops are for grocery traders and are located in the Central Business District at Pampaso and PZ.
Some of the shop owners who spoke with Citi News want the government to lower business taxes.
Source: CitiNews
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