NDC Manifesto: Party promises exemption of taxes for small businesses
- The NDC has launched its manifesto for the December 2020 elections
- Among the things to be offered, the party is promising to exempt small businesses from the payment of corporate income tax
- A package has also been made for the medium-size businesses
The flagbearer of the National Democratic Congress (NDC), John Dramani Mahama, has promised that if the NDC is voted into power, his government will exempt small businesses from tax.
He said the payment of corporate income tax will be scrapped for the small business in order for them to reinject the money into their businesses.
For medium businesses, Mahama says the corporate income tax will be reduced from 25% to 15%.
Source: Original
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He made these and many more promises at the launch of the NDC Manifesto on the evening of Monday, September 7, 2020.
Mahama explained that it is unwise to tax small businesses when they are still struggling to grow, thus, scrapping the corporate income tax will ensure that the businesses inject their profits back into the business to ensure growth.
The former president, touching on other aspects of the manifesto, said the NDC will scrap the law banning the importation of salvaged cars.
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He said this will be so in order to keep the folks at Abossey Okai and Suame Magazine - areas known for the sale of spare parts, to keep being in business.
Mahama also said the next NDC government is poised to take make Ghana a better, self-sustained, and advanced country, calling on Ghanaians for their massive votes to make this dream come through.
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Source: YEN.com.gh
