My problem with tax exemptions is the opaqueness and favouritism - Ato Forson

Dr Cassiel Ato Forson, the Finance Minister-designate, has expressed concerns about the current tax exemption regime, describing it as opaque and prone to favouritism.
Speaking before the Appointments Committee of Parliament on Monday, 13 January, Dr Forson called for greater transparency and fairness in the application of tax exemptions.
"My problem with tax exemptions is the opaqueness and favouritism," Dr Forson stated.
He noted that the lack of clarity in the process undermines public confidence and creates opportunities for abuse.
According to him, such practices hinder the nation’s ability to mobilise adequate revenue for development.
Dr Forson emphasised the need to reform the tax exemption framework to ensure it is both equitable and beneficial to the country.
"Tax exemptions should be granted based on clear, transparent, and merit-based criteria," he argued.
He further indicated that addressing these issues would be a priority should his nomination be approved.
The Finance Minister-designate also underscored the importance of balancing revenue mobilisation with fostering a business-friendly environment.
He assured the Committee that under his leadership, efforts would be made to streamline the exemption process while maintaining fairness and accountability in the nation’s financial policies.
Source: Classfmonline.com/Cecil Mensah
Trending Business
Clean Jobs Resources Limited denies involvement in illegal mining activities
12:19Brigadier General Glover Annan Ashong takes office as new Customs Commissioner
11:20Gov’t must be deliberate in empowering businesspeople – Seidu Agongo
19:57Ghana’s development hinges on political-business collaboration – Seidu Agongo
19:47Agongo urges business leaders to mentor 300 youngsters each for Ghana’s future
21:40Jospong Group partner with Austria to boost waste-to-energy and skills training
16:49Bank loans: 35% interest rate senseless – Agongo says Heritage Bank would’ve charged 20% to force low rates
13:23‘Ofori-Atta promised to do his best to protect my bank but still collapsed it’ – Agongo
10:53‘Vindictive,’ ‘backward-minded’ Akufo-Addo gov’t didn’t think the name ‘Agongo’ deserved owning a bank or prospering
10:31PMMC transforms into GoldBod following passage of GoldBod Bill
16:30