Meet Hon. Kwaku Kwarteng, the Chairman of the Finance Committee of Parliament
Over the years, the government has portrayed the 1D1F programme as an ambitious policy to grow the manufacturing sector. It is the blueprint of the government for attracting investments into the sector in all 261 districts across the country, which turn up to be a 419 promised of Nana Addo/Bawumia/NPP Government.
Last year, when the poor people of his Obuasi West Constituency were struggling under the severe economic conditions, Hon. Kwaku Kwarteng was in parliament justifying why e-levy must continue to be imposed on the people. But guess what? At the same time, he was also justifying why a wealthy company (Le Meridien Hotel) that was going to build a 4-Star luxurious hotel in a plush area of Accra should be granted a tax exemption to the tune of $3.9million (at today’s exchange rate that will be Ghc 43million).
What is even weird was the justification his Committee gave in a report signed by him to justify the tax exemption. He signed the report that said the tax exemption was being granted to the company for the construction of the luxurious 164-bedroom hotel because the construction of the hotel was in line with government’s One District One Factory (1D1F) policy.
How can a hotel be a factory? The people of Obuasi West and Ghanaians must be seeking answers from the Chairman of the Finance Committee.
The Ministry of Finance wanted the relief granted in line with the tax exemption regime under the One District, One Factory Programme.
This means the company would not pay a pesewa in taxes when it imports materials and equipment within the exemption granted.
Additionally, the finance ministry asked that parliament allows the company not to pay VAT on items it procures locally for the project.
Companies in this category also benefit from a five-year tax holiday.
But there are questions about the tax exemption for this Le Meridien hotel.
It was packaged under the government’s flagship industrialization policy, ‘One District, One Factory’.
Over the years, the government has portrayed the 1D1F programme as an ambitious policy to grow the manufacturing sector. It is the blueprint of the government for attracting investments into the sector in all 261 districts across the country, which turn up to be a 419 promised of Nana Addo/Bawumia/NPP Government.
Wisdom Wilson Adzedakor
North Tongu, Deputy Communications Office
