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2025 Budget: GUTA calls for tax cuts, currency stability, and cost reductions
The Ghana Union of Traders’ Associations (GUTA) has expressed cautious optimism ahead of the government’s 2025 Budget Statement, emphasising the need for significant reforms to reduce the cost of doing business.
The Association welcomed assurances from the new administration to streamline the tax system and cut down taxes, duties, and levies, which have long been a burden on the trading community.
“The assurance to ease the business climate through tax reforms is a step in the right direction,” GUTA President Dr. Joseph Obeng stated.
“Our expectations are clear, and we believe this budget is an opportunity to address long-standing challenges traders face,” the added.
GUTA has outlined key expectations from the budget, starting with the elimination of what it terms “nuisance taxes.”
The Association believes that scrapping redundant taxes will significantly relieve businesses, promote growth, and foster a more competitive market environment.
High on the list of demands is the restructuring of the Value Added Tax (VAT) to make it simpler, more affordable, and uniform across sectors.
“A reformed VAT system will ease compliance burdens and make operations more predictable for businesses,” Dr Obeng noted.
Addressing concerns over the volatility of the Ghana cedi, GUTA has proposed that the Bank of Ghana’s dollar rate—used to determine import duty payments—be fixed quarterly or bi-annually instead of the current weekly or biweekly adjustments.
“Frequent changes in the dollar rate destabilise business planning. Pegging it quarterly will bring much-needed stability,” the Association emphasized.
GUTA is also advocating for the introduction of unconditional tax amnesty programs to broaden the tax base.
Such initiatives, the Association believes, will encourage non-compliant businesses to enter the tax net and allow companies with irregularities to settle obligations without harsh penalties.
“This is not just about revenue mobilization—it’s about giving businesses breathing space to recover and grow,” Dr. Obeng explained.
On compliance, GUTA is urging the government to adopt effective education, monitoring, and enforcement strategies to ensure fair application of tax laws.
Traders are also looking forward to the implementation of a fixed duty system for spare parts, a promise highlighted in the governing party’s manifesto.
GUTA believes this pilot project could eventually be extended to cover all imported commodities, further stabilizing import costs.
Economic stability remains a top priority for the trading community.
GUTA is calling for policies that will ensure the stability of the local currency, reduce inflation and interest rates, and improve key economic indicators.
“A stable economic environment is crucial for business predictability and growth,” Dr Obeng stressed.
Beyond revenue measures, the Association is urging the government to scrutinize and evaluate its expenditures to prevent waste and mismanagement of public funds.
“We pay taxes to see meaningful development. Value for money should be a guiding principle in public spending,” Dr Obeng asserted.
Source: Myjoyonline.com
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Heritage Month Ghana trends
Since the institution of the Heritage Month celebration in Ghana, it has offered citizens opportunities of a lifetime to learn about their cultures and lifestyles.
Ghana’s version is observed in the month of March, coinciding with the country’s Independence Day celebrations on March 6.
Show host, George Sappor in full
regalia as a traditional leader
outfit to mark Independence Day and
Heritage Month. She usually does it with
husband and best friend, Kofi Aduonum
but in his absence, she maintained the
poise to attract the atte
Heritage Month features festivals, food fairs, arts, crafts, and music events to highlight the economic and social value of preserving national heritage.
Though a brainchild of the Ghana Tourism Authority (GTA), the celebration has been driven to greater heights by local media with the organisation of several events to create the needed euphoria.
at Original TV gave
culture a touch of ‘old
school’ in her presentation
last Tuesday to wow
her audience as part of
the station’s Heritage
Month celebration
Among the events are the Heritage Caravan and Back To Your Village Food Bazaar powered by Accra-based Citi FM and Citi TV, Wear Ghana Festival and the Gɔbɛ festival powered by 3News.
The Heritage Caravan is a road trip which takes patrons across more than half of Ghana’s regions to offer a distinctive road trip that allows participants to explore the various regions of Ghana, providing an up-close encounter with the country’s historical and cultural heritage.
In addition to these roles played by the media, news anchors and other presenters appear on screens immaculately garbed in locally made outfits, bringing out the beauty of our traditions.
Today, The Spectator newspaper selected a few of the media personalities that are working to give the celebration a global dimension to project the country.
By Andrew Nortey
News
MoMo vendor 24 murdered at Kwadaso
A disturbing crime has shaken the Kwadaso Onion market community in Kumasi, leaving family and friends grieving the loss of a young life.
Identified only as Junior, a 24-year-old mobile money vendor, was found murdered in his room on Saturday, March 8, 2025.
According to eyewitnesses, Junior had returned home the previous day with a substantial amount of money, over Gh¢20,000.
It was suspected that the killers might have been motivated by the large sum of money in Junior’s possession.
A police source that confirmed this to The Spectator, said investigation has been launched into Junior’s murder, but so far, no arrests have been made.
The Kwadaso community is reeling in shock, calling for justice and an end to the atrocity that has claimed the life of a young and promising individual.
Junior, is believed to be a native of Ejisu Onwe, and was known to his colleagues and friends as a hardworking and diligent individual who worked at the Kumasi Race Course.
His tragic death serves as a stark reminder of the risks and challenges mobile money vendors faced.
The incident comes barely a month after Patricia Nimako, a 27-year-old Mobile Money (MoMo) vendor, was shot and killed at Krofrom, Kumasi in the Ashanti region by an unknown assailants.
The suspected armed robbers fled with the deceased cell phones and an amount of GH¢10,000 on Thursday, February 13, at approximately 3:00 p.m.
The two armed robbers reportedly stormed the kiosk where the deceased was operating and without any provocation shot her dead.
There has not been any arrest yet by the police.
From Kingsley E. Hope , Kumasi
