1D1F: Check Out Full List Of $335m Tax Waiver 42 Beneficiary Companies

The Ministry of Finance in 2021, began processes to secure approximately $335,072,712.13 tax exemptions for some 42 companies under the government’s One District One Factory initiative.

The Exemptions Act, 2022 (Act 1083) was laid in Parliament by the former Minister for Finance, Ken Ofori-Atta, in 2022.

The Chinese-owned company, Sentuo Oil Refinery Limited has the highest figure of $164,633,012.00 the list awaits parliamentary consideration and approval.

Other beneficiaries will include; Ferro Fabrik Limited, Everpure Holdings Limited, Fu Cai Company, Nungua Warehouse Company among others.

The tax waivers are in the areas of Import Duties, GET Fund Levy, Import NHIL, Import VAT, and EXIM Levy on materials, plants, machinery and equipment or parts to be imported.

Below is the full list of the forty-two companies awaiting to benefit from the exemptions, with newly established Sentuo Oil Refinery Limited having the highest figure of $164,633,012.00

The One District One Factory (1D1F) initiative is the vision of President Nana Addo Dankwa Akufo-Addo to change the nature of Ghana’s economy from one that is dependent on the import and export of raw materials to one that is focused on manufacturing, value addition and export of processed goods.

The initiative, as proposed by President Akufo-Addo, is private sector-led.

The government creates the necessary conducive environment for businesses to access funding from financial institutions and other support services from government agencies to establish factories.

 

 

 

 

 

 

 

 

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