The Association of Ghana Industries (AGI) has urged President Akufo-Addo to step in and find creative ways to widen the tax net as opposed to imposing new levies that burden private companies.

The Association is concerned that the government's plans to impose a 20% Excise Tax and a 2.5% Growth and Sustainability Levy on beverage companies may lead to the closure of numerous businesses.

The Greater Accra Regional Chairman of the AGI, Tsonam Cleanse Akpeloo made the call ahead of the President’s State of the Nation Address (SONA) scheduled for March 8, 2023.

“There are several taxes that are being levied on industries on a daily basis. We already pay VAT. As I speak to you, there’s a growth and sustainability levy which is 2.5% on profit before tax which is a bill before Parliament. This will bring an additional tax burden on industries. We have also got the excise duty bill which is proposing to introduce about 20% levy on beverage companies, and actually increasing the levy on bottled water from 17.5% to 20%,” Tsonam Akpeloo lamented.