News
Parliament waves tax for 4 companies under 1D1F
Parliament yesterday approved request by the government for tax waivers to four companies under the One District One Factory initiative.
The package included import duties, import Value Added Tax, Ghana Education Trust Fund (GETFund) levy, Import National Health Insurance Levy and Export and Import (EXIM) levy.
The companies are Camelot Ghana Limited (US$347,174), Favour 01 Limited (US$131,988), Gee’s Fresh Point Limited (GHC48, 369) and LK International Company Ghana Limited (US$2,284,831).
Areas of the economy where the companies are expected to operate include production of non-alcoholic beverages, tricycle assembling, security printing and processing and packaging of birds.
The request for waiver laid in the House on May 26, 2020, was in accordance with Article 174(2) of the Constitution.
Presenting the Finance Committee’s report on the waiver, Chairman, Dr Mark Assibey-Yeboah said the move was in line with government’s efforts to industrilise the country.
The report, a copy of which the Ghanaian Times has said in part that “considering the benefits to be derived from the projects, the Committee is of the view that the requests will go a long way to boost government’s flagship 1D1F programme.”
According to the report, some of the benefits of the projects would include increased employment, reduction in post harvest losses of fruits by providing alternative market, increased export earnings and increased fruit production in the country.
The report said Camelot Ghana Limited’s main business was the printing of security documents and continuous forms.
“The company offers the printing of cheque books, bankers’ drafts, share certificates, dividend warrants and certificates, lottery tickets of various types and continuous and cut sheet stationery, preprints for laser printers, electoral ballot papers-standard and special size and many more,” it said.
Located in Tamale, LK International Company Limited assembles 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.
Favour 01 Limited, the report said is a limited liability company under the Companies Code of Ghana, 1963 (Act 179) and is located at Ayikuma in the Shai Osudoku District in the Greater Accra Region.
Gee’s Fresh Point Limited, the Committee reported is a gender sensitive organisation working with NGOs like WUSC, FARM RADIO, and GIZ towards empowering women through capacity building programmes and creating ready markets for women poultry farmers.
A member of the Committee, Benjamin Kpodo, urged that government to track the intended mission of the firms to ensure that they lived up to the billing.
BY JULIUS YAO PETETSI
The 24 Hour Economy Authority has signed a Memorandum of Understanding with Hunan Architectural Design Institute Group to support the planning of the Volta Economic Corridor.
The agreement aims to guide how land within the corridor will be used, design key infrastructure, and develop systems that will support large scale production.
The partnership will focus on detailed planning to make the area ready for investment and smooth business operations.
The project will include the development of agroecological parks, industrial zones, and transport networks to connect production centres to markets.
According to the Authority, proper planning is critical to building strong economic systems and expanding production across the corridor.
It noted that the collaboration with the Chinese design firm will help lay a solid foundation for industrial growth and long term development within the Volta Economic Corridor.
By: Jacob Aggrey
President of the Ghana Bar Association, Efua Ghartey, has called on judges and lawyers to carry out their duties with humility, fairness, and a strong sense of responsibility.
She made the appeal during the Supreme Court at 150 celebration held at the University of Ghana, under the theme “Honouring the past, celebrating the present and defining the future.”
Addressing participants, she noted that those in the legal profession occupy positions of great power and influence, and must therefore remain humble in the discharge of their duties.
She urged both the bench and the bar to deliver justice without fear or ill will, stressing the need for fairness in handling cases.
Reflecting on the significance of the celebration, she explained that the year 1876 marks not only the establishment of the Supreme Court but also the beginning of formally trained lawyers in the Gold Coast.
The GBA President questioned what Ghana would be without the rule of law, which is upheld by judges and lawyers, adding that the country could descend into a system where only the strongest survive if justice is not properly administered.
She further encouraged legal practitioners to reflect on their responsibilities and remain committed to upholding the rule of law for the benefit of all citizens.
By: Jacob Aggrey
