Former Stanbic Bank CEO Alhassan Andani Calls for Urgent Tax Reforms in Ghana
Alhassan Andani, former Chief Executive Officer of Stanbic Bank, has issued a strong call for reforms in Ghana’s tax administration, criticizing the Ghana Revenue Authority (GRA) for stifling business growth through its current practices.
Speaking at the Ghana CEO-Presidential Gala Dinner, Mr. Andani likened the GRA’s approach to tax collection to the operations of a “terrorist organization,” describing how its methods often induce fear and foster corruption within the private sector.
“I know a number of organizations, when GRA gets into their space, it’s as if they deliberately do it in order to wriggle people’s arms to take money,”
he remarked. He further noted that many CEOs and businesses dread interactions with GRA officials, saying, “When GRA is coming, it’s like some terrorists coming.”
Overburdened Businesses
Mr. Andani highlighted the overwhelming tax burden on businesses, revealing that some companies are required to navigate up to 33 different tax obligations. This complexity, he argued, hampers business growth and innovation.
“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,” he urged.
Broader Challenges
In addition to tax burdens, local industries face inflation, currency depreciation, delayed payments, and other financial pressures. These challenges, Mr. Andani explained, leave many businesses struggling to maintain cash flow and meet tax deadlines, often resulting in contentious interactions with the GRA.
While emphasizing the importance of paying taxes, he called for reforms to streamline the tax system, reduce redundancies, and allow businesses the breathing space needed to grow.
A Vision for Change
Mr. Andani stressed that tax reforms should aim to support business growth rather than overburden enterprises.
“We need to rationalize, simplify, and reduce taxes so the private sector can thrive,” he stated.
The former CEO’s comments add to the growing calls for a more business-friendly tax environment in Ghana, with stakeholders urging the government to balance revenue collection with the need to foster private sector development.
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