The Majority Leader in Parliament, Alexander Afenyo-Markins, has stated that the complaints over the amount of tax waivers granted to some companies are misplaced. In the view of the Effutu MP, the focus should be on the economic gains from these waivers rather than the amounts involved.

The MP said this in response to the Minority in parliament's concern about the waivers.

According to him, overly focusing on the actual figures of the waivers is an oversimplification and mischaracterisation of these incentives.

Speaking on JoyNews’ AM show on Monday, he said, “Countries are competitive for investments, and they have all manner of incentives to attract people to bring capital. We are talking about post-Covid entrepreneurial decisions. Entrepreneurs would have to take decisions as to which country they would go to. You go to Qatar today, in their free zone their policy on foreign direct investments is so attractive.

"Tax wavers, for the first ten years, you are not supposed to pay tax on profit and all. You have that space. Now this government introduces one district, one factory. The aim of it is to create a space for businesses to thrive. If you give that incentive, that money, that capital is invested in the business. That is why I am saying, do not quantify it, that 'oh, the government is giving tax incentives of three hundred million, oh, that money could have been used for something else’. You will get it wrong”.

The Majority Leader of Parliament reiterated the importance of providing tax incentives to businesses in Ghana, citing the need for patience as companies progress through different stages of development.

The Effutu MP expressed his support for the government's decision to grant tax waivers to 42 businesses, arguing that the incentives are necessary to promote expansion and exploration in the Ghanaian market.

“In my own constituency, an Indian company has established a tissue factory, the first of its kind in West Africa, and this tissue factory is going to produce the raw material base for all the tissue companies. You know the tissue companies we have in Ghana; they all import the pulp, the jumbo; they come and cut it and all. This company is going to produce it, and they got attracted to Ghana because of the one district and one factory.

“They are almost 60% done, and we are all in parliament dragging our feet. There are many companies going through the same thing. I am feeling it because if this company is completed, they will start employing my people. The companies that are importing would not have to import, so the pressure on the Cedi would go down, and if they had those tax incentives, they would be able to do their phase two and employ more,” he noted.

In 2021, the Ministry of Finance initiated processes to secure approximately $335,072,712.13 in tax exemptions for 42 companies under the government's One District One Factory (1D1F) initiative. 

The Exemptions Act, 2022 (Act 1083), was presented to Parliament by the former Minister for Finance, Ken Ofori-Atta, in 2022.

Among the companies awaiting these exemptions,  Sentuo Oil Refinery Limited stands out with the highest requested amount of $164,633,012.00.