The decision by government to withdraw the 5.0% capital gain tax on profit made by investors during the 2021 Budget presentation, can be a game changer to activities on the stock market.
According to Managing Director of Ekow Afedzie, the new directive should be a relief to investors and also serve as a catalyst to entrepreneurs to invest more on the capital market.
“As I indicated earlier, this is a very welcoming news to us and we as managers of the stock market are very grateful to the government for such a bold decision”.
“I believe it will be a game changer for the growth of the market and many investors will be encouraged to come onto the market. This has been a practice in other countries and it has attracted many businesses as well”, he said.
Leader of government business in parliament, Osei Kyei-Mensah Bunso announced during the 2021 budget presentation that the government has taken a decision to permanently exempt listed securities on capital gain tax payments in the capital market.
This development has been welcome by market watchers and analysts.
Latest Stories
-
Let’s live peacefully and shame our saboteurs – Savannah executives of NPP, NDC
3 hours -
Reconstruction of Agona-Nkwanta-Tarkwa road 80 per cent complete
3 hours -
Internet penetration: 10.7 million Ghanaians offline – LONDA Report
3 hours -
USC cancels grad ceremony as campus protests against Israel’s war in Gaza continue
3 hours -
Harvey Weinstein’s 2020 rape conviction overturned in New York
3 hours -
US Supreme Court divided on whether Trump can be prosecuted
3 hours -
There’s enough justification for Affirmative Action Bill to be passed – Minka-Premo
3 hours -
Don’t allow people to manipulate you into vaccine hesitancy – Dr Adipa-Adappoe
3 hours -
Suspend implementation of Planting for Food and Jobs 2.0 for 2024 – Stakeholders
4 hours -
Parkinson’s disease no longer confined to the elderly – Public Health Physician, Dr Momodou Cham warns
4 hours -
Persons living with Parkinson’s disease appeal for support as they face stigmatization
4 hours -
36-year-old-trader sentenced for stealing employer’s money
4 hours -
9 signs you’re falling in love with someone who thoroughly enjoys emotional manipulation
4 hours -
Catholic Diocese of Keta Akatsi hosts Parkinson’s support group meeting
4 hours -
Wa Naa appeals to Akufo-Addo to audit state lands in Wa
4 hours