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

IEA calls for ‘Special Tax’ on extractive companies, ‘Super Profit Tax’ on telcos and banks

3 years ago
in Business, Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
45
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

IEA calls for ‘Special Tax’ on extractive companies, ‘Super Profit Tax’ on telcos and banks

The Institute of Economic Affairs (IEA) has called for the introduction of a “Special Tax” for extractive companies and a “Super Profit Tax” for telecommunications and banking firms in the wake of the Domestic Debt Exchange program.

The organization believes that this will increase domestic revenue and promote economic growth.

According to the Director of Research, Dr. John Kwakye, the government has been placing too heavy a burden on individuals with taxes and alternative solutions must be sought.

“We don’t tax companies enough that work in the areas that are booming. As a developing economy, that’s where we should be taxing and not chasing individuals and poor people for their money,” he said.

Dr. Kwakye also emphasized the need for the government to close tax loopholes, particularly in regards to import taxes and property taxes, by enforcing legislative policies.

He also called on the government to renegotiate and scale back payments to Independent Power Producers as a form of burden sharing for the Domestic Debt Exchange program.

RelatedPosts

CID Establishes Task Force to Combat Influx of Stolen Vehicles into Ghana

Government Reintroduces Free Cocoa Fertiliser Programme to Boost Sector Growth

President Mahama Directs Ministers to Fast-Track Rollout of Ghana’s E-Visa System

The IEA’s recommendations come amid concerns over the country’s economic growth and increasing debt burden.

These proposed measures could potentially provide a much-needed boost to the country’s revenue and provide a more equitable distribution of the burden of debt repayment.

Tags: 'Super Profit Tax' on telcos and banksIEAIEA calls for 'Special Tax' on extractive companiesSpecial Tax'Super Profit Taxtelcos and banks
No Result
View All Result

Highlights

AngloGold Ashanti Doubles Earnings and Free Cash Flow on Higher Gold Prices, Production Surge in Q2 2025

Africa’s Richest Country to Boost Continental Trade Ties After U.S. 30% Tariff Hit

Nigeria Hits Panic Button as West Africa Logs $2.1bn in Suspicious Crypto Transactions

CID Recovers 43 Stolen Luxury Vehicles Smuggled into Ghana

2025 Mid-Year Economic Review: Fiscal Discipline is a Necessary Pain

Ledecky’s Heroics Highlight Underwhelming US Campaign at World Aquatics Championships

Trending

Business

CID Establishes Task Force to Combat Influx of Stolen Vehicles into Ghana

August 4, 2025

CID Establishes Task Force to Combat Influx of Stolen Vehicles into Ghana The Criminal Investigations Department (CID)...

Government Reintroduces Free Cocoa Fertiliser Programme to Boost Sector Growth

August 4, 2025

President Mahama Directs Ministers to Fast-Track Rollout of Ghana’s E-Visa System

August 4, 2025

AngloGold Ashanti Doubles Earnings and Free Cash Flow on Higher Gold Prices, Production Surge in Q2 2025

August 4, 2025

Africa’s Richest Country to Boost Continental Trade Ties After U.S. 30% Tariff Hit

August 4, 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

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.