- The House of Parliament has approved a $2.068 million tax waiver for inputs for three companies in Ghana
- The companies are Accum Energy Ghana Limited, Vester Oil Mills Limited and Ada Premium Diaper Care Limited
- All the companies are under the 1 District, 1 Factory programme
Our Manifesto: This is what YEN.com.gh believes in
YEN.com.gh has learned that Parliament has approved a tax waiver of $2.068 million for inputs to be used under the 1 District, 1 Factory programme.
The waiver would cover machinery, equipment and raw materials to be purchased by three companies under the programme.
Accum Energy Ghana Limited, Vester Oil Mills Limited and Ada Premium Diaper Care Limited have been listed as the companies to benefit from the package.
Accum Energy Ghana Limited would receive $1, 208,404, Vester Oil Mills Limited would obtain $814,874 and $44,990 would be allotted to Ada Premium Diaper Care Limited.
A report by Ghana News Agency shows that the waiver covers Import Duty, Import NHIL, Import GETFund Levy, Import VAT and EXIM Levy.
The Chairman of Parliament’s Finance Committee, Dr. Mark Assibey-Yeboah, explained that Accum Energy was a Ukrainian company that dealt in the production of batteries for cars, trucks, motorcycles and tractors.
He added that Vester Oil Mills Limited specialises in the processing of soya beans and peanuts into good quality meal for livestock and poultry using mechanical expellers.
Ada Premium Diaper Company, on the other hand, is focused on the manufacture of diapers and sanitary pads for both domestic and other West African markets.
In other news, the House of Parliament has granted a GHc1.6 million tax waiver to the Ghana Space Science Institute.
The waiver covers the purchase of equipment, tools, and hardware for the Ghana Radio Astronomy Project.
It will also cover the co-location of the Satellite Earth Observation Ground Receiving Station at Kuntunse.
Read the best news on Ghana #1 news app. Install our latest app for Android and read the best news about Ghana
Faces of Ghana: 21-year-old female boxer's dream of becoming a world champion | #Yencomgh