Mrs. Leticia Osafo-Addo, former vice-president of Association of Ghana Industries (AGI) in charge of small and medium scale Enterprises has appealed to the government to review the taxes imposed on local industries.
She believes this would protect local industries from unfair competition and make them more competitive and productive.
Local firms have struggled to compete with foreign companies as a result of killer taxes that has been imposed by previous and successive governments with their foreign counterparts being granted tax waivers for their operation.
In an interview with Ohene Addo on Plan B FM ‘Nkosuo Nsem’, Mrs. Leticia Osafo-Addo who is the Managing Director of Samba Foods, a processed foods and spices limited said, the country is losing its huge potential in industrial development because of challenges that has bedeviled the local production and manufacturing sector.
“We need to pay attention to our indigenous companies if we want to develop as a country. The main reason why most of our local production companies are struggling is the huge taxes they are made to pay in their operation. These taxes is gradually crippling the sector. The foreign companies are benefitting immensely from tax waivers and incentives and it is very sad same cannot be said of the local production sector. She said
“The government must take a second look at the issue. It is difficult for Ghanaian businesses to compete with their foreign counterparts because of these huge taxes,” she emphasized
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