{"id":3982,"date":"2011-12-01T17:26:09","date_gmt":"2011-12-01T17:26:09","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/12\/association-of-ghana-industries-wants-tax-differentiation\/"},"modified":"2011-12-01T17:26:09","modified_gmt":"2011-12-01T17:26:09","slug":"association-of-ghana-industries-wants-tax-differentiation","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/12\/01\/association-of-ghana-industries-wants-tax-differentiation\/","title":{"rendered":"Association of Ghana Industries wants tax differentiation"},"content":{"rendered":"

You Are Here: Home<\/a> \u00bb General News<\/a> \u00bb Association of Ghana Industries wants tax differentiation<\/p>\n

\n

Page last updated at Thursday, December 1, 2011 17:17 PM \/\/ <\/span><\/div>\n

\"\"<\/a>The Association of Ghana Industries (AGI) has called on the government to consider introducing what it referred to as \u201cdiscriminatory tax incentives\u201d that would give tax breaks to corporate institutions which employ more staff and pay the relevant tax and social security contributions.<\/p>\n

Such an initiative, according to the association, will help generate employment creation and poverty reduction in the long run.<\/p>\n

The President of the association, Nana Owusu Afari, made the call when he briefed the media on AGI\u2019s reaction to the 2012 Budget and Economic Policy Statement of the government presented to Parliament last two weeks.<\/p>\n

To Nana Afari, \u201cthe government must consider making a direct linkage between employment generation and poverty reduction.<\/p>\n

\u201cAccordingly, a discriminatory tax incentive may be employed so that employers who increase a requisite number of staff and pay the relevant tax and social security contributions enjoy better corporate tax incentives.<\/p>\n

While commending the government for increasing the VAT threshold from GH\u00a290,000 to GH\u00a2120,000, the AGI president said \u201cthe current six per cent flat rate of tax imposed on Small and Medium Enterprises (SMEs) places a huge tax burden on businesses that fall in this bracket and must be reconsidered.<\/p>\n

The association, he said was also worried over the poor growth rates recorded by the manufacturing sub-sector over the past years.<\/p>\n

For the past three years, growth in the manufacturing sub-sector has averaged at 0.5 per cent as against the 2.3 per cent average recorded in the past ten years; a trend Nana Afari said was disturbing.<\/p>\n

Giving the various employment opportunities that the sub-sector held, the president said \u201cclear policies and strategies need to be developed to ensure revamping of the manufacturing sector.\u201d<\/p>\n

He hoped that the implementation of the various policies outlined in the Industrial Policy and the Private Sector Development Strategy II would help improve performance in the manufacturing sector.<\/p>\n

On the whole, Nana Afari said \u201cthe budget has a positive outlook and the AGI is looking forward to working with the government in the spirit of public-private partnership to ensure that the various private sector policies are successfully implemented for the growth of the economy as a whole.\u201d<\/p>\n

Source: Daily Graphic<\/p>\n

Comments<\/h4><\/p>\n","protected":false},"excerpt":{"rendered":"

You Are Here: Home \u00bb General News \u00bb Association of Ghana Industries wants tax differentiation Page last updated at Thursday, December 1, 2011 17:17 PM \/\/ The Association of Ghana Industries (AGI) has called on the government to consider introducing what it referred to as \u201cdiscriminatory tax incentives\u201d that would give tax breaks to corporate institutions which employ more staff and pay the relevant tax and social security contributions. <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-3982","post","type-post","status-publish","format-standard"],"yoast_head":"\nAssociation of Ghana Industries wants tax differentiation - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/12\/01\/association-of-ghana-industries-wants-tax-differentiation\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Association of Ghana Industries wants tax differentiation - 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