ADI eliminates Minority's demand for information on 1D1F tax exemptions

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The Alliance for Development and Industrialization (ADI) has described as irresponsible a minority statement to Parliament asking how much the government has lost through tax exemptions under the 1D1F program.

The minority member of parliament in the central district of Ho has urged fellow MPs to reject what he called an "empty" tax exemption to support the One-District-One-Factory (1D1F) project.

MP Benjamin Komla Kpodo said the document currently before Parliament was insufficient and could not be tabled in the House.

"What the minority should understand is that a waiver is granted when a company is ready to establish a plant on the shores of Ghana, which includes tax holidays, holiday periods up to five years, among other things, "according to a statement in Accra. and signed by Francis Acquah, Acting Executive Chairman of 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 concept of 1D1F is similar to that of the Ghana Free Zones Authority and the Ghana Investment Promotion Center, where incentives are given to companies wishing to establish in Ghana.

"The minority should check with the GIPC and the Free Trade Zone authority in Ghana whether the government is giving companies a cap on waivers to encourage them to establish here in Ghana.

"What the minority demands from the government is like asking the Free Zone Authority" 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, remaining projects are expected to begin implementation by the end of 2019.

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