Introduce Tax Reliefs for Local Industries in the 2026 Budget Statement – FABAG

 


Report by Ben LARYEA


As part of the effort to address the challenges affecting local industries in the country, the Food and Beverages Association of Ghana (FABAG) has called government to introduce tax reliefs to save the collapse of industries in the up-coming 2026 budget statement to enable them thrive.


FABAG in these regard, has urged government to introduce in the budget clear incentives and tax reliefs for local food and beverage manufacturers to enhance capacity, productivity and export by creating access to credit, energy cost reduction to enable industries to operate effectively and efficiently.


The Association in a press release, said government must rationalize and review the multiplicity of taxes, levies and charges imposed on the food and beverage sector, Covid 19 Levy, excise duties, environmental excise, producer responsibility tax, containers fumigation fees and regulatory fees.


“The cumulative taxes have increased the cost of doing business, which undermines competitiveness leading to the smuggling of cheapest products into the country, ‘FABAG said, adding; it expects the 2026 budget to introduce targeted tax reliefs for local producers.


It stated further that, the instability of the cedi effects local businesses raising import and production cost and thus urged government to adopt pragmatic fiscal and monetary measures that ensues exchange rate stability.


“The budget must clearly outline measures to attract both local and foreign investment into the agro-processing and infrasturing sub-sector(s) by value addition, technology, transfer as well as the creation of jobs” it said.


“FABAG urge government to streamline overlapping regulatory functions among agencies such as the GRA, FDA, and GSA to reduce bureaucratic bottlenecks, duplication and unnecessary cost to business” the release stated.


It said FABAG reiterates it’s commitment in working with government to build a stable and growth – oriented economy, hence the Association expects a firm assurance from government that no new taxes will be introduced in the 2026 budget statements.

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