Tax Partner at PwC Ghana, Abeku Gyan-Quansah, has expressed concern about the excessive tax burden faced by Ghanaian businesses.

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He noted that, as a result of the high taxes, some multinational companies are opting to relocate their core operations outside of Ghana to address the challenge.

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Gyan-Quansah disclosed, “What we have picked up based on our work is that some of these firms have changed their business models by moving core operations outside Ghana to deal with the challenge [high taxes],” he added.

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He emphasized that these businesses are relocating to produce goods or services abroad and then exporting them back to Ghana.

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Highlighting the origin of the tax policies, he clarified that the elevated taxes are not imposed by the International Monetary Fund (IMF) but are part of the Ghanaian government's own program submitted to the IMF.

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Gyan-Quansah pointed out that, according to the Article IV consultation report by the IMF, there are approximately 27 tax measures outlined by the government to enhance Ghana's revenue situation.

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