The Finance Committee of Parliament has recommended the approval of tax waivers amounting to GHS1.23 million for two companies under the government’s flagship industrialisation policy, one district-one factory.
The two companies are rePatrn Limited, a plastic manufacturing company and Yedent Agro Bulk Processing company, an agro-based firm.
A report presented by the Parliament’s Finance Committee indicated that Yedent agro-processing has applied for GHS1.14 million in tax waivers for the importation of equipment to expand its production capacity.
RePatrn, a company incorporated in 2015, had requested waivers of import duties, import VAT, GETFund Levy, Import NHIL, EXIM Levy and other imposts amounting to GHS92,579.
According to the report, the two companies’ expansion will derive enough benefit for the country especially in the area of job creation.
Parliament in May 2019 approved a request for the waiver of Import Duties, Import VAT, GETFund Levy, Import NHIL, EXIM Levy on plant, machinery, and equipment or parts as well as corporate tax for five years of operation being tax incentives to support the implementation of the 1D1F programme.