Government to review some tax handles to improve investment climate – Deputy Finance Minister

A Deputy Minister of Finance in-charge of revenue, Dr. Alex Ampaabeng, has indicated that the government is reviewing some tax handles to improve Ghana’s business and investment climate.

This, he explained is to ensure that Ghana remains the best investment destination for offshore investors.

He said the government acknowledges investors’ concerns about the complex tax structure, hence it will collaborate with the Ghana Revenue Authority to revise the tax system.

Speaking at the Ghana Investment Promotion Centre Quarter 3 Ghana Club 100 CEOs breakfast meeting and the launch of the 21st Ghana Club 100 Awards, he called for a strategic collaboration for all sector players to ensure a sustained economic growth.

“Looking ahead, several initiatives are underway to further enhance our investment climate. We believe that with the private and public partnership we can accelerate economic growth   and foster sustainable development. The finance minister is working to improve Ghana’s economy and improve Ghana’s tax system”.

“In response to our collaboration with the Ghana Revenue Authority to streamline and revise administrative processes associated with tax structure which will not end with administrative processes, we are also looking at assessing and revising including reviewing some of the tax handles in the country”, he added.

The Chief Executive Officer of GIPC, Yofi Grant, underlined the potential for growth and investment in these circumstances, stating, “But for me, I see trying times as an opportunity for us for various reasons.”

He noted that after the pandemic and the Russian-Ukrainian conflict, many countries are seeking new opportunities and new places to operate.

While acknowledging these global changes, Mr Grant noted that it has opened up emerging opportunities for Africa, particularly Ghana.