Parliament has approved government’s request to waive taxes for some four local firms under the ‘One District One Factory’ (1D1F) flagship programme to promote industrialization, boost investments and create jobs.
The waiver, which is on Import Duties, Import VAT, GETFund Levy, Import NHIL Levy and Exim Levy, amounts to US$2,763,993.45 for Camelot Ghana Limited, Favour 01 Limited and LK International Company Ghana Limited, and GH¢48,396.39 for Gee’s Fresh Point Limited.
It is on plant, machinery and equipment or parts to be procured by the four firms under the implementation of the 1D1F programme.
The request for waiver of taxes was laid in the House on May 26, 2020 by the Deputy Minister for Finance, Abena Osei Asare, on behalf of the Minister for Finance in accordance with Article 174(2) of the constitution, and referred to the Finance Committee and report in pursuant to the Standing Order of the House.
Camelot Ghana Limited is a leading security printing and document solutions company in the West Africa sub-region. Its main business is the printing of security documents and continuous forms.
Same request was made by LK International Ghana Limited, which was established in January 2007 and engaged in the assembling of tricycles and other related products for distribution on the local market and countries in the ECOWAS sub region such as Burkina Faso, Togo, Cote D’ivoire, Benin and Mali. The factory and its operations are located in Tamale.
For Favour 01 Limited, the minister told Parliament it was a privately-owned limited liability company under the Companies Code of Ghana, 1963 (Act 179). Located at Ayikuma in the Shai Osudoku District in the Greater Accra Region, it will engage in the primary activity of producing non-alcoholic beverages like orange, pineapple and mango juices among others under the 1D1F project.
“It is in furtherance of this that the ministry has submitted for approval a request for the waiver of taxes to the tune of US$131,988.00 to assist the company to undertake its project.”
The committee observed that Gee’s Fresh Point Limited was a gender sensitive organization, which is working with NGOs like WUSC, FARM RADIO, and GIZ towards empowering women through capacity building programmes and creating ready markets for women poultry farmers.
In order to enhance its activities and become a leader in the guinea fowl and local chicken processing industry, Gee’s Fresh Point Limited is procuring a refrigerated vehicle to transport the fresh poultry products to market centers. The request for waiver is to enable the company clear the vehicle from the port.
Source:Daily Guide Network
