GIPC Dismisses Reports About Tax Exemptions
Mawuena Trebah, Chief Executive Officer (CEO) of the Ghana Investment Promotion Center (GIPC), has dismissed reports that her outfit granted tax exemption to certain companies operating in the country.
According to her, stringent measures governing the granting of tax exemptions make it impossible for the relief to be enjoyed by undeserving companies.
Some Members of Parliament (MP) have questioned the rationale behind the granting of tax exemption to local Information Technology (IT) firm rLG.
The MP for Obuasi West, Kwaku Kwarteng and his colleague from Assin Central Kennedy Agyapong, had argued that RLG, which assembles electronic devices such as laptops and mobile phones, was enjoying tax concession granted to manufacturers.
According to them, though the Ghana Revenue Authority (GRA), after its survey of facilities belonging to rLG called for the cancellation of the tax exemption, the Finance Ministry had ignored the advice.
However, rLG, in a statement, denied the accusation, describing it as false and an attempt to cause public disaffection for the company.
Mrs Trebah, in an interview, said the new board of the center had resolved to ensure value for money for the country in all transactions with investors.
‘I have heard people talk about tax exemption and what I can say is that the process is quite vigorous and transparent. Companies that apply must satisfy certain requirements, which include commitment by them to use a certain percentage of local resources or expertise and we also go out there and physically check that that is done,’ she added.
Mrs Trebah said she has not granted tax exemptions to any company since she assumed office, adding that the monitoring team of the center would continually check to ensure companies enjoying such tax reliefs comply with conditions relating to the grants.
‘As an organization we go through internal review processes all the time to check our own efficiencies and ensure compliance to ensure companies offered tax exemptions report back on what they have been given,’ she said.
Mrs Trebah said GIPC would continue to attract Foreign Direct Investment (FDI) into the country.
‘Despite challenges facing the Ghanaian economy, Ghana continues to be the preferred choice of investors in the sub-region,’ she said.
Mrs Trebah said political stability in Ghana places her above other nation seeking investment.
The GIPC boss, who is expected to address a special summit for African leaders under the aegis of Barrack Obama, the US President, said she would use the opportunity to outline some of the investment potentials in the country.
She was hopeful the Summit would yield dividends for the country.
By Cephas Larbi
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