‘GRA has become like a terrorist organisation’ – Former Stanbic Bank CEO critiques tax regime

A former CEO of Stanbic Bank, Alhassan Andani, expressed sharp criticism of the tax administration, describing the Ghana Revenue Authority (GRA) as operating like a “terrorist organization” in its dealings with businesses.

Speaking at the recent Ghana CEO-Presidential Gala Dinner, Mr Andani argued that Ghana’s current tax system is suffocating the private sector, hindering business growth, and fueling corruption.

“I know a number of organisations, when GRA gets into their space, it’s as if they deliberately do it in order to wriggle people’s arms to take money,” he said.

He described how many CEOs and businesses now feel a sense of dread when dealing with GRA officials, saying, “When GRA is coming, it’s like some terrorists coming.”

Mr Andani underscored the pressing need for tax reforms to simplify, rationalise, and reduce the number of taxes businesses face.

He pointed out that some companies grapple with as many as 33 different tax obligations, a complexity that stifles business operations.

“Any new tax measures we don’t simplify, and indeed merge and delete some taxes… we just have to rationalize it and give this very emerging capital or private sector people time to breathe,” he stressed.

Highlighting the impact on cash flows, Andani emphasized that businesses are struggling under the weight of taxes, inflation, depreciation, and delayed payments.

These factors, he argued, place private sector operators in a financial bind, affecting their ability to pay taxes on time and leading to more confrontational interactions with the GRA.

Mr Andani noted that while businesses are often willing to meet their tax obligations, they need “some breather room” to maintain cash flow and manage their costs effectively.

He urged that reforms should also focus on creating a balance where businesses can thrive rather than being burdened with excessive taxes.