Ghana urged to consider tax breaks to ease blow from virus
INTERNATIONAL – Republic Bank Ghana Ltd. is urging the government to cut tax rates to cushion the economy from the fallout of the coronavirus.
The government should consider easing corporate-income tax to 20% from 25% and give workers relief, Benjamin Dzoboku, the Accra-based lender’s general manager for finance and strategy, said by phone. Banks, insurers, telecommunications firms, breweries and miners pay an additional 5% levy on pretax profit, making their effective rate 30%.
“If you don’t do that, businesses are going to suffer, every sector is affected by this Covid-19,” he said.
Source: iol.co.za
