Business

Govt to slash corporate taxes to 20% in 2018 – Alan Kyerematen

Private sector businesses should from next year begin paying less in corporate taxes. It comes on the back of the proposed 5 percent drop in corporate tax from the current 25 percent. The slash in corporate taxes was among the numerous tax incentives promised by the NPP government ahead of the 2016 elections. The move was however missing from the tax incentives provided in this year’s budget. But Trade and Industry Minister, Alan Kyerematen says the eventual implementation should bring relief to businesses and help them expand to achieve economic growth. “In response to complaints from industry players, particularly the AGI, government has promised to reduce corporate taxes from 25% to 20% this is on course to be implemented from next year,” Alan Kyerematen stated. “We believe that the private sector which creates employment opportunities should be supported with programs and policies that facilitate growth,” the Minister added. Alan Kyerematen was speaking at the launch of Fan Milk’s new product, Fan Maxx.

Source: Citifmonline.com

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