AFED Welcomes Mahama’s ‘No Corporate Income Tax ‘Promise For Small Businesses But Demands Enactment Of The Startup Act
On Wednesday, 19 August 2020 at the Ho Technical University, Mr. Mahama made these promises when he addressed the leadership of organised labour and professional groups as part of his campaign tour of the Volta region.
The flagbearer of the main opposition National Democratic Congress (NDC), Mr. John Dramani Mahama, has said small businesses will be completely exempted from corporate income tax in his next government if elected president again in the December 7 polls.
Mr Mahama also promised that “corporate income tax for medium-sized companies will be reduced from the current 25% to 15%.” The former President further assured that newly-established medium-sized companies that employ staff up to 20 will be completely exempt from the payment of corporate income tax for one year.
In response to this, the Executive Director of Africa Entrepreneurship Dialogue (AfED), Justice Offei, said this among many others will create an enabling environment for the startups and that said this call also align to AFED’s advocacy for the enactment of a Startup Act that will legally encapsulates tax exemptions among many other incentive features and gives a definition for startup. Mr. Justice Offei added that in few weeks , AFED 2020 will be held to discuss the themes of the Political Will (Manifestos) of the major parties for the entrepreneurial ecosystem juxtaposing this to existing efforts. We will digest and critique strongly any Manifesto that doesn’t hold realistic and feasible promise for the startup during AFED 2020. We want to know how it will be done and not just the mere promises.
AFED is an entrepreneurial policy think-tank that seeks to engage and advocate for better and more realistic policies and initiatives for the betterment of the entrepreneurial ecosystem in Ghana. In 2019, Global Entrepreneurship Monitor (GEM) tasked AFED to setup GEM Ghana to produce an annual data source for the Ghanaian Entrepreneurial Ecosystem.
AFED 2020 will be held in 2 folds; The zoom version (In September ) and the physical meeting (In October).
By Amos Dankwa