The largest opposition party the National Democratic Congress (NDC) Communication Officer Sammy Gyamfi has outlined six key Tax Rebate his government will implement if voted into power come December polls.
The promise was made by Sammy Gyamfi the National Communication Officer of the party during its 14th Press Briefing dubbed “Adwumapa”.
This is tax rebates for businesses includes the following:
- A total scraping of the 25% corporate income tax for small businesses
A reduction of Corporate Income tax for medium-scale businesses from 25% to 15%.
A two (2) year Corporate Income tax exemption for newly incorporated medium-scale businesses that employ 20 people and above.
a Two (2)-year tax holiday for youth startups and businesses.
Reverse the increment in VAT that the Akufo-Addo government has introduced through the backdoor which has made it impossible for businesses to claim Input Tax Credit/refunds on 5% NHI and GETFUND levies.
Scrap Import Duty on commercial vehicles and vehicles and equipment imported into the country for agriculture, or agribusiness or industrial purposes.
These tax rebates according to Sammy Gyamfi, will go a long way to reduce the cost of doing business so that businesses are able to inject the savings into their businesses for the creation of more jobs.
“Aside these tax incentives, the next NDC/Mahama government will undertake several productive and transformational initiatives in the private sector to create sustainable jobs with decent wages” He further revealed.
By: Talks Africa Media