TAGG TO MEDIA for
Distinguished Ladies and gentlemen of the press, we wish to welcome you all to this very important press conference on our position on the recent 2022 budget that has created a lot brouhaha in the country especially regarding traders.
Our message is concise and direct in addressing the underlisted issues in the budget
- Reversal of the Benchmark values
- The impact of the E-levy on the Ghanaian citizens
- Our suggestion/alternative solutions being recommended
Reversal of the Benchmark values:
“The Finance Minister, in presenting the 2022 Budget statement on the floor of Parliament on Wednesday, November 24, 2022 mentioned that the 50% and 30% benchmark values on some 32 selected items have been removed with the aim of promoting the manufacturing sector and the patronage of locally produced goods in Ghana.
We have No problem with the government on aiming and directing our Enterprising Traders onto the local manufacturers of goods, however government must clearly indicate these 32 selected items of which companies are producing them, and the production capacity being produced by these companies. Was the advice to government by AGI enough that informed the decision of reversing the Benchmark values?
This data we believe is crucial for the trader to make some basic analysis on availability of stocks, make informed decisions in comparing prices, quality standards and availability of the volumes needed for our operations.
We however wish to remind government that, traders will always be traders and are ever ready to pass on any additional charge/cost to the final consumer 100%. The action of government by adding more cost at the Port of Clearing goods will not be a problem that should warrant a strike action or a demonstration to interrupt our business activities.
Have you ever seen or heard of any strike or demonstration from the big players like Shoprite, Melcom, Game, Palace Supermarket, Orca Deco, China Mall, Koala etc.; NO!!! You know why, they will always pass on the excess cost to the final consumer. We entreat our traders not to entertain any activity that will affect free flow of their business
operations especially towards the festive season. All traders are advice to add on in order to stay in business.
The impact of the E-levy on the Ghanaian Citizen
The Finance Minister also indicated in the same budget the introduction of the 1.75 percent Electronic Transaction Levy (E-Levy) scheduled to take off in January 2022. We wish to urge the government to look at the composite of the E-levy again and possibly reduce the rate to an acceptable level where every Ghanaian will embrace it. We believe is a smart way of widening the tax net and also in increasing the tax contribution to GDP growth 2022.
Our suggestion/alternative solutions being recommended
- Our alternative suggestion to government is to reduce the E-levy rate and stagger rates in standard tiers. Government must realize that traders have come to accept the digital payment platforms especially the Momo platforms for payment of wages, paying suppliers and their vendors. The convenience that the platform brings has even reduce highway robbery amongst our traders. We entreat government to go back to the drawing board and think about the rate again and heed to the advice and call from Ghanaians especially traders.
- Government should liaise with Traders Advocacy Group Ghana (TAGG) for us to provide data on Traders who can do huge volumes on the local sourcing of the 1D1F products and find a way to support these traders within that category.
- Once we assist government in identifying these high-volume of traders, an arrangement could be put together with the manufacturers to supply the traders within the scope of the agreement. This is because we have the full database of all these traders who have the capacity to do so with a click of a button.
With regards, we are calling on government to heed to our call to maintain peace and tranquility in the country. Long live Ghana! Long live Traders Advocacy Group of Ghana!! (TAGG) Long live all Traders.
KWADWO AMOATENG MR. SAMUEL ASARE ADDO
PRESIDENT OF (TAGG) VICE PRESIDENT OF (TAGG)
NANA POKU JULIET A. A KUSI
GENERAL SECRETARY (TAGG) DEPUTY SECRETARY (TAGG)
MRS IRENE VICTORIA ODOOM ABRAHAM YAO FIANU
TREASURER (TAGG) PROTOCOL OFFICER (TAGG)
NB: kindly log on to www.tradersadvocacygroup.org