Businesses must pay their taxes so they can see the economic development they want to see. Tax officers shouldn’t have to chase businesses to pay up. Every category of business has its own kind of tax to pay; whether it’s the tax stamp, corporate tax etc. If you earn money, pay your tax. Those who evade tax eventually have to come to terms with it. That could bring a company to its knees.
More generally, businesses should be compliant with regulations. Every business has an authority that supervises it. They should learn the regulations and know the ethical behaviour. In so doing, they will know how to run their businesses responsibly and that includes tax payment.
Source:
Nana Kyeremateng
Head of Corporate Communications and Brand Management, Access Bank Ghana
Glitz Africa Magazine Issue 22
