The 2016 presidential candidate for the Great Consolidated Popular Party (GCPP), Dr. Henry Lartey has described as ‘’fantastically brilliant’’ decision by government to give tax holidays to young entrepreneurs.
Speaking in an interview with Rainbow Radio 87.5Fm, he said the initiative is a laudable one hence government must be commended.
Finance Minister, Ken Ofori-Atta on Wednesday when he presented the 2018 budget statement announced that, the government will through the National Entrepreneurship and Innovation Plan (NEIP), grant the tax holidays to the beneficiaries based on the number of people they employ.
“As a further commitment to creating a supportive ecosystem for young Ghanaian entrepreneurs of age 35 years and below, who start their own businesses, government will through the National Entrepreneurship and Innovation Plan (NEIP), grant tax holidays based on the number of persons employed by a start-up or early-stage business.’’
“A preferential tax rate of between 3 to 5 years will be granted after the tax holiday,” he said.
Dr. Lartey in his view said, this is a fantastic policy because even in England, when you are running a business, the first three years you don’t pay tax because they give you time to sort yourself out.
So the current administration has brought this policy in, we [GCPP] are very happy and we will support it to give the businessman the room to grow the business, room to make money, room to be able to be in the position to pay tax, he said.
He also indicated that stimulus packages for businesses is another laudable initiative Ghanaians should support.
He said, we have to help the current administration to achieve the goals they have outlined because government is setting the fundamentals right to make businesses take off.
On the National Builders Corps, he said that is also a good initiative because they need to create jobs and they are going to divide it throughout the districts.
It means graduates will get jobs. These jobs are for graduates and not for anybody because we have more than 300,000 graduates who do not have jobs. And if you can cut it down by that number, that is phenomenal. It is a very brilliant idea and we should support it.’’