1D1F: ADI "clears" minority demand for government revenue losses through tax exemption | General news

The Alliance for Development and Industrialization (ADI) has described as irresponsible a statement by the minority in Parliament asking how much the government has lost so far thanks to the tax exemptions granted in the part of the 1D1F program.

"The minority acts just by immaturity and is extremely irresponsible. What the minority should understand is that a waiver is granted once a company is ready to establish a factory on the shores of Ghana, which includes tax exemptions, periods of tax holiday up to at five, "Accra and signed by Francis Acquah, acting executive chairman of the ADI.

According to the statement, the minority does not act in a professional manner with regard to the ethics of business promotion.

"If you are considering a long-term economy, anyone who integrates a business under the 1D1F program should be encouraged by such incentives, as this would contribute to the growth of our economy and to the creation of jobs for the young people of the country ".

The statement explained that the 1D1F concept is just similar to the companies in the Ghana Free Zone and the Ghana Investment Promotion Center, where aids such as tax incentives are granted to companies wishing to establish there their business.

The minority should check with the GIPC and the Free Zone Council of Ghana whether the government is giving companies a maximum of waivers to encourage them to establish here in Ghana.

"What the minority is demanding from the government is like asking the free zone council how many tax exemptions will you offer this year," the statement said.

According to Deputy Minister of Commerce and Industry, Robert Ahomka-Lindsay, 45 of the One District One Factory projects are currently operational out of 181.

In addition to 22 of the 181 projects under construction, the remaining projects are expected to be implemented by the end of 2019.

Projects to begin by the end of 2019 include small scale processing facilities, common user treatment facilities funded by sources ranging from local private finance initiatives (PFIs), African Development Bank (ADB) and CNB facility.