Govt must review Ghana's complex and expensive tax regime - Ishmael Yamson

Ishmael Yamson

Economist, Ishmael Yamson is asking for an immediate review of the country's tax laws to attract more local and foreign investors into the economy.

According to him, doing business in Ghana is becoming frustrating and difficult because of the many taxes individuals have to pay.

Mr. Yamson who is the board chairman of the Ghana Investment Promotion Center told Joy News' Elton John Brobbey, a recent World Bank report paints a gloomy picture about doing business in Ghana.

He criticised the “cascading tax” in the country which he said is becoming “one emerging problem”. He explained that under the current laws, one company is taxed by several state institutions – from the district to the national level.

“Ghanaian enterprises are highly taxed,” he said and called on government to do something about the country's “complex and expensive tax regime”.