Economist Samson Anomah has admonished the minority in Parliament to soften its stance in the matter regarding the tax waivers, the $350 million tax waivers the government wants to grant to some 41 companies under the one district, one factory initiative.
He said the tax waivers, if improved, would have gone a long way to support the beneficiaries to expand their businesses, cut down on the cost of production, and reduce the prices of their goods and services.
He lamented that excessive taxes have a negative impact on businesses since they eat into their profitability, stifle their growth, and make them reduce the level of employment.
Speaking on Nyankonton Mu Nsem on Rainbow Radio 87.5FM, he insisted that the two sides of the house must reach a compromise in order to have the tax waivers approved.
“Those that would be directly affected by the refusal to approve the waivers are the businesses themselves and consumers in general in terms of prices, in terms of employment, and in terms of the quality of goods produced. Finally, the government would also be affected. So in my honest opinion, the two sides should each compromise and have the tax waivers approved. If they are indeed working in the interest of Ghanaians, they should sit together and reach an agreement and have the waivers approved.”
The minority in Parliament has blocked efforts to get Parliament to approve a total of $350 million as tax waivers for 41 businesses.
The businesses are beneficiaries operating under the One District, One Factory program.
The minority has claimed that granting tax waivers to these businesses would impose a tax burden on the Ghanaian taxpayer, as well as a fiscal burden on the incoming government in the 2025 budget.
But Mr. Anomah argued that the tax waivers have long-term benefits for the country and the two sides must reach a compromise.
In his view, if the waivers are not granted, some of the beneficiaries may fold up.
Meanwhile, he advised the outgoing government to submit all documentation on the tax waivers to the incoming administration for them to consider it.
He said the NDC government must reconsider its stance since it also granted tax waivers when it was in office, including Meridian Port Services, which was more than what this government is proposing to grant.
The beneficiary companies of the tax waivers are B5 Plus Limited, Ferro Fabrik Limited, Everpure Holdings Limited, Miro Forestry Ghana Limited, Specialty Beers (Ghana) Limited, Prestige Integrated Agro Company Limited, Sneda Transformers Technologies Limited, Yaabiko Enterprise Limited, Lesdy Company Limited, Lesfam Industries Limited and Golden Latex Products Limited.
The rest are RMS GPT Ghana Limited, Keda (Ghana) Ceramics Company Limited, Ciments de l’Afrique Ghana Limited, Grand Chem Limited, Triton Och Industries Ghana Limited, Epac Flexible Packaging Ghana Limited, CK Engineering and Construction Limited, Beekaf Foods Ghana Limited, Emperor Foods and Beverage Limited and Korban Company Limited.
The others are Sunda Ghana Investment Limited, Sunda Ghana Limited, Matrix Industries Limited, Golden Africa Consumer Products Limited, Amponsah-Efah Pharmaceuticals Limited, Agrohao Ghana Company Limited, Fu Cai Company Limited, Yellowtail Limited, Everpack Limited, Happy Sunshine Company, Multipac Company Limited, Golden Africa Soap Industries Ghana Limited, Mass Industries Limited, Rikpat Company Limited, Rision Industry Company Limited, OA & J Pharmaceuticals Limited, Echo Poly Industries Limited, YMHY Doors Ghana Manufacturing Company Limited, Sankofa Brewery Limited and Nungua Warehouse Ghana Limited.
By: Rainbowradioonline.com/Ghana
