Saturday, October 31, 2020
Home POLITICS Sammy Gyamfi Outlines Six (6) Tax Rebates for Businesses at “Adwumapa”

Sammy Gyamfi Outlines Six (6) Tax Rebates for Businesses at “Adwumapa”

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:

  1. A total scraping of the 25% corporate income tax for small businesses

  2. A reduction of Corporate Income tax for medium-scale businesses from 25% to 15%.

  3. A two (2) year Corporate Income tax exemption for newly incorporated medium-scale businesses that employ 20 people and above.

  4. a Two (2)-year tax holiday for youth startups and businesses.

  5. 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.

  6. Scrap Import Duty on commercial vehicles and vehicles and equipment imported into the country for agriculture, or agribusiness or industrial purposes.

READ ALSO  John Mahama Begins 5-Day Campaign Tour of Greater Accra

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.

READ ALSO  Dr. Bawumia Mobbed at Lower & Upper Manya Krobo Constituencies
READ ALSO  Former Deputy Finance Minister sues Ken Agyapong for Defamation

By: Talks Africa Media

Leave a Reply

Most Popular

2020 polls: 51% of Ghanaians will vote based on infrastructure – CDD Ghana report

A survey conducted by the Ghana Centre for Democratic Development (CDD) has revealed that at least 51% of Ghanaians will vote based on infrastructure...

Dec Elections:”Be Agent of Peace”-EC to First time voters

The Chairperson of the Electoral Commission of Ghana is entreating all first time voters across the country to flee from vice and violence as...

All you need to know about Airing of NDC’s ‘Nokware Mmere’ Political Show

UPDATE ON AIRING OF “NOKWARE MMRE” (MOMENT OF TRUTH) SHOW.30TH OCTOBER, 2020The National Democratic Congress (NDC), wishes to inform the general public, that its...

Recent Comments