Dr Cassiel Ato Forson, the Finance Minister-designate, has expressed concerns about the current tax exemption regime, describing it as opaque and prone to favouritism.
Speaking before the Appointments Committee of Parliament on Monday, 13 January, Dr Forson called for greater transparency and fairness in the application of tax exemptions.
“My problem with tax exemptions is the opaqueness and favouritism,” Dr Forson stated.
He noted that the lack of clarity in the process undermines public confidence and creates opportunities for abuse.
According to him, such practices hinder the nation’s ability to mobilise adequate revenue for development.
Dr Forson emphasised the need to reform the tax exemption framework to ensure it is both equitable and beneficial to the country.
“Tax exemptions should be granted based on clear, transparent, and merit-based criteria,” he argued.
He further indicated that addressing these issues would be a priority should his nomination be approved.
The Finance Minister-designate also underscored the importance of balancing revenue mobilisation with fostering a business-friendly environment.
He assured the Committee that under his leadership, efforts would be made to streamline the exemption process while maintaining fairness and accountability in the nation’s financial policies.
Source: myjoyonoline.com