Ghana Union of Traders Association Archives

28 Apr

Prepare For Price Hikes On Some Goods From May 1 – GUTA

wontumionlineBusiness, NewsDr. Joseph Obeng, Ghana Union of Traders Association, GUTA

The President of the Ghana Union of Traders Association (GUTA), Dr Joseph Obeng, has cautioned Ghanaians to prepare for a possible increase in prices of some goods on the market. This follows the implementation of three new tax measures by the government, namely the Excise Duty, the Income Tax Amendment Acts, and the Growth and Sustainability Act, which were passed by Parliament despite opposition from the Minority and the business community. Dr Obeng emphasized that since businesses and consumers are interdependent, any challenges faced by businesses will ultimately impact the consumers Consequently, GUTA intends to pass on the extra costs…

10 Jan

GUTA Saddened By Alan Kyerematen’s Resignation

wontumionlineNewsAlan Kyermaten, Ghana Union of Traders Association, GUTA, Resignation

Ghana Union of Traders Association (GUTA) has commended the former Trades and Industry Minister, Alan Kyerematen for the impact he had in the Ministry. Describing him as a national asset, the Union recounted the achievement chalked by the former government appointee while in office. The General Secretary of GUTA, Alpha Shaban, praised Mr Kyerematen as an excellent leader and a political genius. “The Ghana Union of Traders’ Associations (GUTA) is deeply saddened by the news of the sudden resignation of the Trade and Industry Minister, Alan Kyerematen. All those who know him and happen to have come in contact with…

04 Jan

GUTA Calls For Total Reform In VAT Implementation

wontumionlineBusinessGhana Union of Traders Association, GUTA

The Ghana Union of Traders Association (GUTA) has called for a total reform in the implementation of the Value Added Tax (VAT) to enhance compliance. GATU’s call follows the implementation of the increase in the VAT rate from 12.5% to 15% effective January 1, 2023. Finance Minister, Ken Ofori-Atta had indicated that the increase is expected to yield GH¢2.70 billion, which will be used to augment funding for road infrastructure development. GUTA however warns that failure to reform the system may not yield the expected results. In an interview with Citi News, the President of GUTA, Dr. Joseph Obeng said…

01 Dec

Trade Leaders Describe Move To Withdraw Forex Support On Selected Imports As Rushed

wontumionlineBusinessForex, Ghana Union of Traders Association, GUTA

Three trade leaders including the president of the Ghana Union of Traders Association (GUTA), Dr. Joseph Obeng; the West African Regional Director of CUTS International, Mr. Appiah Kusi-; and Executive Director of the EXIM Frozen Foods Association-Ghana, Michael Obiri-Agyei, have described the central bank’s current policy as a rushed one. To them, they disagree with the new policy indicating the Bank of Ghana’s withdrawal of forex support for the importation for selected products identified as non-critical. The central bank will no longer provide forex support for the import of rice, poultry, vegetable oils, toothpicks, pasta, fruit-juice, bottled water, ceramic tiles…