Traders at the Kumasi Central Market are protesting in the Ashanti Region.
The aggrieved traders have closed down their shops to protest what they described as ‘killer taxes’ and the continuous depreciation of the Ghana cedi against major trading currencies in the country.
Most of the locked-up shops had red bands tied on them as traders said the protest will last for three days.
The traders are kicking against a decision by the Ghana Revenue Authority (GRA) to station their officers at each shop to record Value Added Tax (VAT) on products they sell.
This development of the GRA going to shops and malls has been going on for months.
The aggrieved traders argued that they are overburdened with taxes which impede efficient revenue collection and general activities.
They have also threatened to boycott business-related activities if more practical methods are not applied in running the revenue collection system y the GRA.
As of Saturday, October 8, 2022, forex bureaus are selling the Ghana cedi to the dollar at ¢11.2 to $1 on the retail market.
The cost of operations of businesses, particularly manufacturing, will go up and consequently trigger increases in prices of some goods on the market, and for that matter inflation.
Some operators of the forex bureau said the recent action by the Bank of Ghana has yielded little return.
Pulse
