The minister for parliamentary affairs and majority leader Hon Kyei Mensah Bonsu is very optimistic that the tax exemption bill be passed before the end of this week
when approved the bill is expected to harmonize the tax exemption and insensitive regime in the country and help make it more efficient.
It will comprise tax wavers given to local and foreign companies to encourage increased in investment and more foreign direct investment in the economy
The bill was withdrawn from parliament last month to make way for correction and amendments by Osei Kyei Mensah Bonsu has assured that the Taxes exemption bill will be passed before the house adjourns sitting on Thursday.
” We need to regulate the tax exemptions to create a much more harmonise regime because between 2012 and 200, this country lost in terms of taxes 14.03 billion taxes of otherwise ought to have been paid to the government. And this amount does not include tax exemptions from the payment of corporate and income individual taxes, concessions on tax raise, petroleum tax relieves, custom tax exemptions and so on.
If we should all these, you will realise that we’d have exceed about 25 billion between 2012 and 2020.
Story by Matilda Youpele
