Accra-Ghana, Sept 14, GNA – Mr Bright Wireko-Brobby, the Deputy Minister of Employment and Labour Relations has lauded the continued meaningful contributions of the Ghana Employers’ Association (GEA) to national development.
Addressing the 63rd Annual General Meeting (AGM) of the GEA in Accra on the theme “Tax Compliance and Cooperation in a Challenging Economy,” he said without the GEA and organised labour, the nation would not have had peace on the labour front.
He said the GEA had played a vital role in the current administration and in the stability that Ghanaians were enjoying, and the Ministry of Employment and Labour Relations appreciated working together and the collaboration between organised labour and the Government.
He said the National Tripartite Committee, which is a regulatory body that determines the national minimum wage, was composed of the Government, the GEA and organized labour.
Mr Wireko-Brobby said the Government could not do the employment alone; saying “in fact, of the 12million of our labour force, about 10million of them are found in the private sector – thus the formal private sector, most of whom are employed by GEA”.
“All that the Government is doing is trying to create the enabling environment, including working with the Commissioner General (of the Ghana Revenue Authority) and not introducing outrageous taxes and collapsing our businesses.”
He said the Government would continue to create the harmonious environment for the private sector to thrive, for more Ghanaians to be gainfully employed, for the economy to boom.
Mr Dan Acheampong, the President of the GEA said the outlook of the Ghanaian economy was critical in shaping business and investment decisions.
“Compared to the difficult economic environment that confronted employers in 2022, we are gradually witnessing some stability in the economy,” he stated.
“The depreciation of the Ghana Cedi relative to its major trading currencies has slowed down, thanks to the swift and bold policies rolled out by Government.”
He said inflationary risks persisted in the economy.
Mr Acheampong appealed to the Ghana Revenue Authority (GRA) to continue to work towards eliminating complexities in the tax regulations and to create a conducive environment for compliance.
Reverend Dr Ammishadddai Owusu-Amoah, the Commissioner General of the GRA, in a speech read on his behalf by Mr Dominic Naab, a Technical Advisor at the GRA, said taxation was the bedrock of every economy and was the main source of revenue for economic development in every country.
He said tax compliance was a decision or an act made by an individual or a business to abide by tax laws and regulations implemented by a country.
Rev Dr Owusu-Amoah said Ghana’s tax laws had been simplified to make it easier for all persons to read and understand.
He said the GRA had made a conscious effort to reach out to its cherished taxpayers through tax education and various stakeholder engagement.
He said nation building was arduous and without all hands-on deck the Tax Authority would struggle to mobilise revenue for economic growth.
“Let us all play our part in this endeavour, so that we will enjoy the fruits of the taxes that we pay,” he said.
Mr Alex Frimpong, the Chief Executive Officer (CEO) of the GEA, in his Annual Report and Financial Statement of the GEA for the year ended 31st December 2022, said looking back, the year brought with it complex set of challenges that significantly impacted the business landscape.
He said the global economic environment experienced fluctuations, investment uncertainties, trade disruptions and geopolitical tensions that affected business in Ghana.
At the event, 10 companies who were able to train 490 of their staff with the GEA were awarded – The Ghana Water Company, Nexans Kablemetal Ghana limited, the Bank of Ghana, the Volta River Authority, and the Ghana National Association of Teachers (GNAT).
The rest are COCOBOD, Forestry Commission, GCB Bank PLC, the GRA and the Social Security and National Insurance Trust (SSNIT)
