{"id":7775,"date":"2024-08-19T09:28:46","date_gmt":"2024-08-19T09:28:46","guid":{"rendered":"https:\/\/www.fishfmonline.com\/?p=7775"},"modified":"2024-08-19T09:28:52","modified_gmt":"2024-08-19T09:28:52","slug":"bawumias-flat-tax-idea-will-be-impactful-if-implemented-well-franklin-cudjoe","status":"publish","type":"post","link":"https:\/\/www.fishfmonline.com\/?p=7775","title":{"rendered":"Bawumia\u2019s Flat Tax idea will be impactful if implemented well \u2013 Franklin Cudjoe."},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>The Flat Tax idea by the flagbearer of the New Patriotic Party (NPP) Dr Mahamudu Bawumia will be impactful if implemented well, Founding President of IMANI Africa Franklin has said.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Dr Bawumia while, speaking at the NPP\u2019s manifesto launch in Takoradi on Sunday, August 18,&nbsp; said that his government will prioritise the strengthening of businesses, especially SMEs, in order to enhance their growth and boost both the economy and job creation..<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">At the launch of the NPP\u2019s 2024 Manifesto in Takoradi on Sunday, Dr. Bawumia said, his government will focus on delivering bold solutions for businesses and jobs, and as part of that, he revealed what he called business friendly policies, including a friendly tax regime, as well as direct incentives to support the growth of businesses.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Among the incentives Dr. Bawumia announced his government will offer businesses are:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">a. incentivise Ghanaian start-ups in selected, strategic sectors with Investment Tax Credits (ITC) for the first three (3) years of their operations<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">b. Flat Rate for all importers; bringing predictability and stability on prices of imported goods.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">c. harmonise port charges to align with charges in competing regional ports, particularly Togo. Duties at our ports will be same or lower.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">d. use Government\u2019s purchasing power to stimulate industrial expansion and business growth, which will help create jobs, by rolling out a \u201cBuy Ghana First\u201d policy under which all goods and services procured by the public sector will first be filled by goods and services produced locally.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<div class=\"ose-youtube ose-uid-5a41064e7feab7f86e584f1f8e093e8f ose-embedpress-responsive\" style=\"width:400px; height:400px; max-height:400px; max-width:100%; display:inline-block;\" data-embed-type=\"Youtube\"><iframe loading=\"lazy\" allowFullScreen=\"true\" width=\"400\" height=\"400\" src=\"https:\/\/www.youtube.com\/embed\/keIcjvxZZvM?feature=oembed&color=red&rel=0&controls=1&start=&end=&fs=0&iv_load_policy=0&autoplay=0&mute=0&modestbranding=0&cc_load_policy=1&playsinline=1\" frameborder=\"0\" allow=\"accelerometer; encrypted-media;accelerometer;autoplay;clipboard-write;gyroscope;picture-in-picture clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen referrerpolicy=\"origin\"><\/iframe><\/div>\n<\/div><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">e. Implement a shift in electricity tariffs structure to a regime in which commercial rates are either equal to, or lower than residential rates, never higher, to power industries and businesses<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">f. establish an SME Bank to meet the special financing needs of small and medium businesses, which employ over 80% of Ghanaians.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">g. reform the licensing regime for the small-scale mining sector, reduce the minerals export tax to 1% to discourage gold smuggling, and establish a Minerals Development Bank to finance viable local mineral projects, small scale miners, as well as Ghanaian mining and mining services firms<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">h. complete the digitalisation of land titling and registration to allow owners of landed properties to use their properties as collateral to raise capital for business growth and expansion.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">i. Special Economic Zones ( Free Zones) will also be created in collaboration with the private sector at Ghana\u2019s major border towns such as Aflao, Paga, Elubo, Sankasi and Tatale to enhance economic activity, increase exports, reduce smuggling and create jobs.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Reacting to this in a Facebook post, Franklin Cudjoe said \u201cDMB admits economic challenges but falls short of acknowledging the role his government\u2019s fiscal recklessness contributed to the atrophy<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cIt is not true that unemployment rate was higher in 2016 than now. It is almost 4\u00d7 higher now.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cAnd Dumsor was solved by December 2016 so there was no need for it in 2024. His Flat Tax idea though will be impactful if implemented well. His pledge to govern with 50 ministers is a great move.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Flat Tax idea by the flagbearer of the New Patriotic Party (NPP) Dr Mahamudu Bawumia will be impactful if implemented well, Founding President of IMANI Africa Franklin has said. Dr Bawumia while, speaking at the NPP\u2019s manifesto launch in Takoradi on Sunday, August 18,&nbsp; said that his government will prioritise the strengthening of businesses, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":7777,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[41,18],"tags":[2585],"class_list":["post-7775","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general-news","category-politics","tag-franklin-cudjoe-2"],"_links":{"self":[{"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/7775","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7775"}],"version-history":[{"count":1,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/7775\/revisions"}],"predecessor-version":[{"id":7778,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/7775\/revisions\/7778"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/media\/7777"}],"wp:attachment":[{"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7775"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7775"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7775"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}