Economist Prof. Godfred Bokpin has expressed worry about the private sector being crowded out from the benefits of the African Continental Free Trade Area (AfCFTA).
This is due to the unfavorable tax regime in the country.
According to him, the high cost of borrowing coupled with some nuisance taxes are having severe impact on Ghanaian businesses intending to trade favorable under the continental programme, compared to their peers.
Speaking to Joy Business, Prof. Bokpin said unless the current tax regime in the country is reviewed, Ghanaian businesses will struggle to compete under the pact.
‘If you look at our tax basket, it is heavily indirect based. All of that contributes to high production cost of doing business”.
Economist Prof. Godfred Bokpin has expressed worry about the private sector being crowded out from the benefits of the African Continental Free Trade Area (AfCFTA).
This is due to the unfavorable tax regime in the country.
According to him, the high cost of borrowing coupled with some nuisance taxes are having severe impact on Ghanaian businesses intending to trade favorable under the continental programme, compared to their peers.
Speaking to Joy Business, Prof. Bokpin said unless the current tax regime in the country is reviewed, Ghanaian businesses will struggle to compete under the pact.
‘If you look at our tax basket, it is heavily indirect based. All of that contributes to high production cost of doing business”.
