Former Chief Executive Officer of Stanbic Bank, Alhassan Andani, has criticized the Ghana Revenue Authority (GRA) for its aggressive approach to tax collection.

He likened the GRA’s tactics to those of a terrorist, forcefully squeezing money from businesses.

Speaking at the Ghana CEO Presidential Gala Dinner in Accra on Thursday, November 7, 2024, Andani expressed concern that the current tax system is stifling the private sector.

He pointed out that the complex system, which involves the payment of 33 different taxes, is obstructing business growth and contributing to corruption.

“GRA has become a terrorist organization. I know a number of organizations, when GRA gets into their space, it’s as if they deliberately do it 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,” Mr. Andani indicated.

At present, businesses are struggling to generate more revenue and remain operational due to high inflation, the depreciation of the cedi, and the multitude of taxes they are required to pay to the government.

The Ghana Revenue Authority (GRA) is tasked with ensuring full compliance with tax laws to secure a steady revenue stream for the government.

In addition, it supports trade and guarantees a regulated and secure movement of goods across the country’s borders.