Cabinet is deliberating on the final draft of the Tax Exemption Bill, as government pushes for it to be laid in Parliament before the end of this year.
According to the Minister of State at the Finance Ministry, Charles Adu-Boahen, the bill which is long overdue when passed into law would help government streamline tax exemptions for businesses and foreign investors in the country.
Speaking at the Stanbic Bank-Graphic Business Breakfast Meeting, Mr. Adu Boahen expressed confident that Cabinet will fast-track the bill to get it laid in parliament as soon as possible.
“With the exemption bill, we are working to get it laid before the reading of the 2020 Budget, because it has been long overdue and the objective is to get it done before 2022.”
“We will lay it before submitting the budget itself by this month and same with the implementation of the property rate. As you can see, some work is ongoing with the digital address systems.”
Meanwhile, Economist at the Economics Department at the University of Ghana, Dr. Priscilla Twumasi Baffuor, is calling on regulatory agencies to support initiatives of the private sector in order to expand and create more employment.
Tax Analyst and Senior Lecturer at the Law School, Dr. Ali-Nakyea also called on government to institute measures that will help reduce the growing rate of youth unemployment.
He proposed innovative ways for government to get its finances on track without further deepening the fiscal challenges within the economy.
Latest Stories
-
GRA-SML deal: Majority kicks against publication of KPMG audit report
2 mins -
GOIL introduces Super XP to give consumers more affordable options
21 mins -
Scottish Premiership: Mathew Anim Cudjoe and Dundee United secure promotion after Championship win
2 hours -
Leicester City trigger buy option for Fatawu Issahaku
2 hours -
We will ensure recent poor run of results is reversed – Hearts of Oak management to fans
2 hours -
GRA terminates 2 SML contracts, suspends upstream and minerals audit deal
2 hours -
Sister Derby joins Medikal on stage at 02 concert
3 hours -
Medikal’s 02 Concert: Shatta Wale, Sarkodie bring fireworks on stage
3 hours -
Livestream: Newsfile discusses Cecilia Dapaah’s case, vote-buying allegations in Ejisu
3 hours -
NACOC embarks on a search at Nsawam Prison
3 hours -
Ban on noise-making commences May 6
3 hours -
Foden wins Football Writers’ Association Footballer of the Year award
4 hours -
FDA discovers expired food items at Zuarungu SHS storeroom
4 hours -
Bahamas World Relays: Ghana paired with world and Olympic champions in Heat 1
12 hours -
Bahamas 2024 Relays: Star-studded cast ready to put on pre-Paris show
12 hours