• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Majority accuses Minority of impeding $335m tax exemptions for 42 companies under 1D1F

1 year ago
in Business, Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
92
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Majority accuses Minority of impeding $335m tax exemptions for 42 companies under 1D1F

Parliament has yet to grant tax exemptions for 42 companies under the One District, One Factory (1D1F) programme, due to delays by Parliament’s Finance Committee in completing the necessary scrutiny.

Majority Leader Alexander Afenyo-Markin has criticized the delay as a deliberate attempt by the Minority to impede government efforts to attract investment.

In 2021, the government requested Parliament to approve tax exemptions for various businesses participating in the 1D1F industrialization initiative, designed to signal to the international investor community that Ghana is a favourable environment for business.

However, the process has been impeded by extensive delays, particularly due to demands for further scrutiny by members of the Minority caucus.

Minority Leader Cassiel Ato Forson has opposed advancing the exemptions list, citing irregularities with some companies and their requested tax exemptions. The Minority has also rejected a proposal to present 15 companies deemed free of irregularities to Parliament, leaving the Majority Leader frustrated.

The prolonged delay—now in its fourth year—raises concerns about an intentional effort to obstruct the government’s agenda.

RelatedPosts

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes

GACL Terminates Evatex Revenue Assurance Contract Amid OSP Probe

Cyber Security Authority Flags Rising Mobile Data Scam, Cautions Public

These delays threaten to stifle industrial growth, the tax exemptions are designed to reduce operational costs, making it more attractive for businesses to establish and expand operations. Without these incentives, companies may scale back their plans, leading to slower industrialization and fewer job opportunities, undermining the 1D1F programme’s objectives.

The impasse could also negatively affect investor confidence, international investors seek stability and predictability in economic policies. Political gridlock and uncertainty surrounding the tax exemption process may deter potential investors, fearing similar bureaucratic hurdles and a lack of policy consistency in the future.

It is imperative for Parliament to leverage its numerical composition to foster bipartisan relations for the benefit of Ghana. Healthy bipartisan collaborations create stable environments that favour businesses, irrespective of the government in power.

 

Tags: $335m tax exemptions1D1FMajority accuses Minority of impeding $335m tax exemptions for 42 companies under 1D1F
No Result
View All Result

Highlights

Gov’t Reopens Talks With PayPal to Restore Full Service Access in Ghana

Financial Sector Assets up 34.6% in 2024 to GHS 525.59 Billion

Banking Sector Soundness Remains Robust in 2024 Amid Strong Profitability, Adequate Capital Buffers

Sha’Carri Richardson Withdraws from US Trials Following Arrest

From Singuluma to El Kaabi: Can CHAN 2024 Unleash the Next Hat-trick Hero?

Ghana to Welcome King’s Baton Relay on August 8 Ahead of 2026 Commonwealth Games

Trending

Features

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes

August 2, 2025

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes Parliament has adjourned...

GACL Terminates Evatex Revenue Assurance Contract Amid OSP Probe

August 2, 2025

Cyber Security Authority Flags Rising Mobile Data Scam, Cautions Public

August 2, 2025

Gov’t Reopens Talks With PayPal to Restore Full Service Access in Ghana

August 2, 2025
Bank of Ghana

Financial Sector Assets up 34.6% in 2024 to GHS 525.59 Billion

August 2, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.