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Business News of Tuesday, 25 February 2020


Extend tax waivers to construction-related businesses – Dev’t Analyst

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A development analyst and lecturer at the Department of Development Studies at the Kwame Nkrumah University of Science and Technology (KNUST), Dr Camynta Baizie, has suggested that the government make it a norm to waive taxes for construction-related businesses.

Mr Baizie’s suggestion comes on the back of the government’s proposal to waive US$24 million in taxes for Platinum Properties Limited, promoter of the Pullman Accra Airport City Hotel Project.

The opposition National Democratic Congress (NDC) has alleged that the focal person of the Pullman Accra Airport City Hotel Project is an in-law of President Nana Akufo-Addo.

According to the biggest opposition party, the tax waiver is an abuse of power and a confirmation that the Akufo-Addo government is one of family and friends.

Speaking on the matter on the Accra Mid-day News, Dr Camynta Baizie said all construction businesses must be accorded the same incentives so more jobs can be created for the youth.

In his view, the construction industry promotes economic development and, therefore, suggested that the government should exempt them from certain taxes.

“Let’s take off the taxes on cement, iron rods, nails, electric cables, roofing sheets”, Dr Baizie proposed, adding: “By so doing, many artisans will get work to do. This is what we term as liquidity”.

According to him, such tax incentives should neither be discriminatory nor be given to only foreigners.

For instance, he said the Ghana Real Estate Development Association (GREDA) has been petitioning the government to waive taxes on their services but the government has been adamant to do so.

Dr Baizie has, therefore, entreated the government to extend such tax waivers to GREDA if, indeed, someone alleged to be his in-law is about to benefit from a US$24 million incentive.

He insisted such tax waivers must go through parliamentary scrutiny.