NPP Vice Presidential Candidate Promises Tax Reforms to Support Spare Parts Dealers

Dr. Matthew Opoku Prempeh, the Vice Presidential Candidate for Ghana’s ruling New Patriotic Party (NPP), pledged that a future NPP government would overhaul the current tax system to support spare parts dealers and boost the business environment.

At a community engagement in Abossey Okai, located in the Ablekuma Central Constituency of the Greater Accra Region, Prempeh outlined plans to repeal 22 existing taxes and introduce a flat tax rate for businesses.

During his address, Prempeh emphasized the NPP’s commitment to creating a conducive environment for business growth. He stressed that the proposed tax reforms are designed to simplify the tax landscape, enhance predictability, and foster economic growth.

Prempeh, also known as NAPO, strongly supported Dr Mahamudu Bawumia’s vision of implementing a flat tax rate for importers. He believes this will stabilize and predictably price imported goods.

He highlighted the enthusiasm of local businesspeople at the event, noting that it reflects a shared commitment to the NPP’s economic agenda.

The Vice Presidential Candidate also took the opportunity to critique the opposition National Democratic Congress (NDC) and its Presidential Candidate, John Dramani Mahama. Prempeh questioned the feasibility of Mahama’s proposal to operate nightclubs around the clock, suggesting that the NDC needs more practical solutions to the country’s economic challenges.

In addition to the tax reforms, Prempeh announced plans for a tax amnesty program.

This initiative would grant individuals and businesses a temporary exemption from paying taxes and waive interest and penalties for past tax filing failures, allowing them to start afresh.

The visit to Abossey Okai included a tour of the local business centre and a meeting with the Chief of Abossey Okai, Nii Abossey Okai III, underscoring Prempeh’s engagement with the community and commitment to addressing their concerns.