Flagbearer of the National Democratic Congress, John Dramani Mahama, has promised to grant tax reliefs to Small and Medium Enterprises (SMEs) in the country to enable them to recover from the impact the coronavirus pandemic has had on their establishment.
He says that, these reliefs will help them get back to full operating capacity
At a meeting with Organized Labour and Professional Groups in the Volta Region on Wednesday, August 19, the former president assured that within the first three months of 2021, when elected as President, he will lay several bills before parliament for the approval of these reliefs.
According to Mr. Mahama, “the mismanagement of the economy of the NPP administration and the deliberate collapse of the businesses together with the adverse impact of COVID-19 will force many businesses to lay off their workers and at worse fold up,” hence the need for such an intervention.
He also promised to ensure that “taxes are fair, equitable, and favourable and our public expenditure is aligned to the critical felt needs of Ghanaians.”
“Many small and medium enterprises are unable to survive because of the harsh economic conditions. The mismanagement of the economy of the NPP administration and the deliberate collapse of the businesses together with the adverse impact of COVID-19 will force many businesses to lay off their workers and at worse fold up. Begining in 2021 and into the medium term, the NDC government will offer tax relief to the private sector, especially the small and medium enterprises to enable them to recover and get back to their full operating capacity,” he said.
The former president added that his government when elected in the 2020 polls, “will ensure that these firms leverage on these tax relieves to expand the scope of their production, thereby employing more Ghanaian youth. Within the first three months of 2021, I will lay several bills before parliament that will seek to grant tax reliefs to small and medium enterprises”