GUTA Archives - Page 2 of 4

02 Aug

I Am Disappointed By The Mid-Year Budget – GUTA President

wontumionlineBusiness2023 Mid-Year Budget Review., GUTA

The GUTA President, Dr Joseph Obeng has expressed disappointment at the 2023 mid-year budget. According to him, despite the fact that no new taxes were introduced, they expected some existing ones to have been scrapped or the rates reduced. “The budget did not touch on the high cost involved in doing business, no revision on taxes, high interest rate and high inflation issues have not been solved. Inflation from 53% to 42% is not acceptable, nothing has changed, there is no new thing in the budget,” he said. Speaking in an interview on TV3’s Ghana Tonight, July 31, Dr Obeng…

12 Jul

We Need To Add Value To Our Raw Materials To Be Competitive – GUTA President

wontumionlineBusinessDr. Joseph Obeng, GUTA

President of the Ghana Union of Traders Association (GUTA), Dr Joseph Obeng, has called on businesses to add value to their raw materials before trading. According to him, transforming the raw materials into finished goods will give them a competitive advantage over other goods on the international market. To help meet this target, Dr Obeng called on businesses to expand their production capacity to meet the demands of consumers locally and globally. In an interview with TV3, the President of the Ghana Union of Traders Association said, “it is very important that we do value addition, we make sure that…

06 Jun

GUTA Will Not Relent On Calls To Review Three New Taxes – Dr.Obeng

wontumionlineBusinessDr. Joseph Obeng, GUTA

The Ghana Union of Traders Association (GUTA) has noted that it will not relent in its pursuit to ensure that the government reviews the three revenue measures that were passed in March 2023. According to them, the Union will push for a review of the taxes as well as the COVID-19 levy in the mid-year budget review. Businesses are currently lamenting the struggles that they have had to face due to the high cost of utilities and the expensive nature of taxes they have to pay. “Now that the IMF deal has gone through, we will still pursue government and dialogue so…

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…

19 Apr

Gov’t Spokesperson Apologises To GUTA

wontumionlineBusinessGUTA

Government Spokesperson on Governance and Security Palgrave Boakye-Danquah has apologised to the Ghana Union of Traders’ Association (GUTA) for the seeming snub by government in the rollout of the three new tax bills. GUTA’s President Dr Joseph Obeng had complained bitterly on TV3‘s New Day on Wednesday, April 19 about the neglect of them by government in the introduction of the new tax bills. Dr Obeng said they were not consulted as major stakeholders only for the President, Nana Addo Dankwa Akufo-Addo, to assent to the three bills. The bills, now laws, are the Excise Duty Amendment Bill 2022, the Growth and Sustainability Left…

18 Apr

GUTA Demands Apology From Joewise Over ‘Unguarded’ Comments

wontumionlineBusinessGUTA

The Ghana Union of Traders’ Associations (GUTA) is demanding a retraction and an unqualified apology from the First Deputy Speaker of Parliament, Joseph Osei-Owusu, for comments he made in an interview on Oyerepa TV. The Member of Parliament for Bekwai Constituency is reported to have taken on traders over the hikes in prices of goods and indicated that they were exploiting Ghanaians. He is also quoted as saying: “They are always talking about taxes and yet they are over exploiting Ghanaians and I’m saying this without fear.” The First Deputy Speaker is said to have added that GUTA and, indeed,…

13 Apr

GUTA Urges Members To Reduce Prices Of Goods

wontumionlineBusinessExchange rate, GUTA, Inflation, prices

The Ghana Union of Traders Association (GUTA) has entreated its members to respond positively to the improved economic position of the country and adjust prices accordingly. According to a statement from the traders group, efforts by the government and the Bank of Ghana to bring down inflation and exchange rate are commendable, hence the call on its members to cut prices of goods. “GUTA, entreats all members of the business community to respond positively to the changing trend and adjust prices to reflect the exchange rate. We express our pleasure to the government and the Bank of Ghana for their…

27 Mar

People May Start Saving Under Their Beds Instead Of Banks – GUTA President

wontumionlineBusinessGhana Union Traders Association, GUTA

President of the Ghana Union Traders Association (GUTA), Dr Joseph Obeng, has asserted that the savings culture of Ghanaians will witness a sharp decline if care is not taken. According to him, people may start saving under their beds instead of making bank deposits due to the current uncertainties with investments and savings within the financial sector. Speaking at the Graphic Business/Stanbic breakfast meeting in Accra last week, Dr Joseph Obeng said, "I am afraid we will go back to the dark ages where people were afraid to send money to the bank, hide it under their beds because the…

17 Mar

GUTA Advocates ‘Effective Policing’ Of Markets

wontumionlineBusinessGUTA

The Ghana Union of Traders’ Association (GUTA) is calling on authorities to institute higher standards of surveillance at markets instead of collecting levies and leaving traders to their fate. The Union said this is the “best way” to ensure safety and security of markets in Ghana. This was contained in a statement issued on Thursday, March 16 following a fire disaster at the New Kejetia Market a day earlier. The fire gutted the rear portions of the market, leading to loss of property and wares by most traders. GUTA expressed sympathies to all victims but called for independent investigations into…

10 Jan

GUTA Pushes For An Industrious Professional As Trade Minister

wontumionlineBusinessGUTA, Ministry of Trade and Industry, President Akufo-Addo

The Ghana Union of Traders Association (GUTA) has made a passionate appeal to President Akufo-Addo to appoint someone of the caliber of Alan Kyerematen to be the next Minister of Trade and Industry. According to the union, Mr. Kyerematen who has resigned did an excellent job while in office, it expects a professional with an industrious expert to succeed him. “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 this affable gentleman will attest…