Finance Minister Nominee, Ken Ofori Atta has told Citi Business News government will have to undertake a careful analysis of its tax cuts promise before it implements it anytime soon.
According to him, modalities for implementing the NPP’s promise to cut down taxes will largely be outlined in the 2017 budget.
“The tax cuts will be signaled strongly in the first budget and with the type of deficit you have, we clearly will have to be cautious about it. But in terms of the trajectory object certainly even in this first budget certain number of taxes will be eliminated,” he observed.
The NPP government has promised among other things to cut the 17.5 percent VAT on financial services and domestic air tickets and reduce the corporate income tax from 25 to 20 percent.
According to the party, the move should ease the burden of doing business among businesses and make them more competitive.
Though the policies are yet to be effective, Ken Ofori Atta is hopeful the policies will influence foreign investments to Ghana.
“No we haven’t because we are just drawing out the budget and we are enumerating the number of taxes we promised in the manifesto and then phase them in. But as I mentioned the need to attract investment is key and so those will also be looked at very seriously.”
Ghana- Morocco to increase trade volume
Mr. Ofori Atta made the remarks at the sidelines of an economic meeting between Ghanaian businesses and their Moroccan counterparts in Accra.
Speaking at the same event, the leader of the Moroccan Business Delegation to Ghana, Mrs Miriem Bensalah-Chaqroun was confident the business opportunities existing in Ghana should propel both countries to increase trade volumes from the current 67 million dollars within the shirt to medium term.
“We don’t have very flattering figures; we only do sixty seven million dollars of exchange which is very low but in another hand as business leaders and business entrepreneurs we see the potential for more added value and job creation because that’s who we are.”
“The private sector is the sector that creates most and more sustainable jobs and this is a periodic map that should be integrated into all our countries,” she opined.
The meeting aimed at fostering trade and bilateral relationships between Ghana and Morocco, was a joint co-operation by the Ghana National Chamber of Commerce and the General Confederation of Moroccan Enterprises.
Source: citifmonline.com
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apparently, either some of the guys didnt understand his comments or they didnt read it at all. he said , the first budget will have some taxes cut which means the other ones will follow in subsequent one. give them time to implement their policies. after the first budget, we will know where they are heading towards.
Ghana will sweet rough. I guess more than 54% of Ghanaian will shock in the next 4 years.
4-1-9......You knew you were only lying during the campaign just that you will be voted for. I remember Bawumia saying that Ghana's debt was far higher than what the NDC government was quoting, but you still made all those promises having NPP's version of the higher debt. This goes to say that you did take the high debt into consideration and arrived at the conclusion that in spite of the debt you could still fulfill all those promises, so NO EXCUSES WILL BE ACCEPTED. Majority of Ghanaians will see through your lies and pay you back in 2020. I am waiting for reduction in utility tariffs, free SHS, reduction in VAT to 3%, reduction in other forms of taxes, reduction in food stuffs, reduction in fuel and Trotro and taxi fares etc. You can ***barred word*** some people but not all people.
If I am to evaluate u Nana for this one week I will score u 3% reason: in your inauguration u said and I quote " when I assume office the first thing I will do is to reduce tax , the high tax is affecting the ghanaians" u never said that u will appoint. Ministers first nor increase fuel price. I was expecting to hear since 8th Jan that tax has been reduce and not names of ministers and fuel increment. Nana I can see u are there to compasate those u sponsored u. What is is zongo minister and evaluation minister? Who is the minister going to evaluate ? U or your party and where will the report go to? Daily graphic or your office? While the so call evaluation minister will be working for his pay master are u telling me that he will ever critixe u even a day? Eeeiiii asem oooo and now see what your finance minister is saying . u never said reduction of tac is going to be in budget ooooo. Pls check your" copy and paste" sieech hmmmmmmmmn asem b3ba daabi.now pounds is up and dollar.. And I heard fuel is increased or is incompetent mahama that increase the fuel yesterday? Media hope u are there and your are mouth muted .
EBAA NA EY3,YOU DON,T KNOW THIS PEOPLE,BUT MULTIMEDIA IS CALM LIKE THEIR NOT IN GHANA,GOD IS LOOKING.
Oyiwa . Why didint you tell us this during campaigns. I hope your more time is not 3years cos that why some of us voted for you. Ayooooo
Ei Npp be careful we are not kids