Former CEO of Stanbic Bank, Alhassan Andani
The former Chief Executive Officer of Stanbic Bank, Alhassan Andani, has criticised the Ghana Revenue Authority (GRA) for the “rambo-style” it deploys in the collection of taxes from businesses.
According to him, the revenue arm of the government acts like a terrorist who wriggles the arms of people to take money.
Speaking at the Ghana CEO Presidential Gala Dinner in Accra on Thursday, November 7, 2024, the former CEO of Stanbic Bank bemoaned how the current tax system is suffocating the private sector.
Andani stated that the rigid tax system – payment of 33 different taxes – is hindering the growth of businesses and fueling corruption.
“GRA has become a terrorist organisation. I know a number of organizations, when GRA gets into their space, it’s as if they deliberately do it in order to wriggle people’s arms to take money,” he said during the panel discussion.
He added, “When GRA is coming, it is like a terrorist coming. It’s supposed to be you file what you projected to do for the year, and you pay tax quarterly…”
“Any new tax measures we don’t simplify, and indeed merge and delete some taxes… we just have to rationalize it and give this very emerging capital or private sector people time to breathe,” Andani indicated.
Currently, businesses are unable to rake in more revenues and stay in business due to the high inflation rate, the depreciation of the cedi, and the numerous taxes they pay to the government.
GRA’s mandate is to ensure maximum compliance with all tax laws in order to warrant a sustainable revenue stream for the government.
It also facilitates trade and ensures a controlled and safe flow of goods across the country’s borders.
SA/MA
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