Minority raises red flags over gov’t tax exemptions for 45 companies

Regarding the forty-five enterprises that the government wants to exempt from paying taxes under the one district, one plant concept, the Minority in Parliament has voiced concerns.

The government is requesting parliamentary approval for tax exemptions for the aforementioned 45 companies because they have been submitted to Parliament as key investors of the Ghana Investment Promotion Centre (GIPC).

However, the Minority Leader of Parliament, Dr. Cassiel Ato Forson, stated in a news release released on Monday morning [Nov 27, 2023] that his party will employ all available tactics to stop the government from granting tax exemptions to the aforementioned 45 enterprises.

The increase in the quantity of businesses that the current government is putting before Parliament to be considered for tax exemption is “frightening,” which is the reason.

“There are about 45 companies that have been presented to Parliament as one-district-one-factory companies, GIPC strategic investors, etc., to be exempted from the payment of taxes. In total, Government is asking Parliament to grant tax exemptions to the tune of US$449, 446,247.95 for these 45 companies. That is the equivalent of over five and a half (5.5) billion Ghana cedis”, he stated.

“We in the Minority are serving notice that we shall resist these tax waiver applications fiercely! In their current forms, we shall resist each and every one of the tax waiver applications with all the tools and strategies at our disposal,” he added.

Dr. Cassiel Ato Forson listed the following companies: By Oa & J Pharmaceuticals Limited, B5 Plus Limited, Agrohao Ghana Company Limited, Amponsah-Efah Pharmaceuticals Limited, Ciments de l’Afrique Ghana Limited, CK Engineering and Construction Limited, and Continental Blue Investment Ghana Limited.

Additional companies include: Golden Africa Consumer Products, Golden Africa Soap Industries Ghana Limited, Happy Sunshine Company Limited, Keda (Ghana) Ceramics Company Limited, EPAC Flexible Packaging Ghana Ltd, Everpack Limited, Everpure Holdings Limited, Ferro Fabrik Limited, Fu Cal Company Limited, Golden Poly Industries Limited, and Emperor Foods, Beverages Limited.

Lesfam Industries Limited, Mass Industries Limited, Matrix Industries Limited, Nungua Warehouse Ghana Limited, Multipac Company Limited, Prestige Integrated Agro Company Limited, and Rikpat Company Limited are among the other enterprises in this group.

The remaining entities are Sunda Ghana Investment Limited, Sunda Ghana Limited, Triton Och Industries Ghana Limited, Yaabiko Enterprise Limited, Yellowtail Limited, YMHY Doors Ghana Manufacturing Company, Sankofa Brewery Limited, Sentuo Oil Refinery, Sneda Transformers Technologies Limited, Specialty Beers (Ghana) Limited, and Rision Industry Company Limited.

Source: Ghanatodayonline.com