K.T Hammond justifies tax exemptions to 1D1F companies - MyJoyOnline

This follows Ranking Member on the Trade and Industry Committee, Yussif Sulemana's claim that the Minority has identified a GH₵7 billion tax exemption the government intends to introduce under the guise of One District One Factory, while in actuality it is seeking to benefit government cronies.

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“Embedded in the IDIF initiative is the fact that those companies which have managed to raise monies from whatever capital that they have, they have decided that they have the confidence in the Ghanaian economy and decided to invest in the economy, are to be incentivised and one of the ways we incentivise them is to grant them tax exemptions

Minority in Parliament claimed the Finance Ministry is seeking more than GH₵ 7 billion in fresh tax exemption requests despite another GH₵5.5 billion in exemption requests pending.

This GH₵12 billion in tax exemption requests are all before the Finance Committee of Parliament with the Minority blocking the approval of the initial GH₵5.5 billion.

The Bole Bamboi MP argued that it is unconscionable that government will be seeking to raise a little over GH₵11 billion in new taxes as part of the 2024 budget while giving out GH₵12 billion for free at the same time in tax exemptions.

For instance, we have about GH₵5.5 billion tax exemptions waiting at the Finance Committee for exemptions.

“We have also been reliably informed, and we are speaking because we have seen documents that suggest that they are bringing another GH₵7 billion tax waiver request to Parliament