Scrap Tax Exemptions to Cushion Economy – Adoboli to Government

The finance systems analyst, Kweku Adoboli, has suggested to the government to scrap tax exemptions to businesses in a bid to help rake in more revenue for Ghana in the wake of global economic pressure.

Speaking to Kwaku Nhyira-Addo on The Asaase Breakfast Show on Thursday (16 June) on the topic, “IMF, to go or not to go?” Adoboli called on the government to halt certain projects including the construction of the national cathedral.

“Those type of projects, which are a drag on expenses right now that do not lead to immediate productive benefit should be paused. And it should be done with confidence, it is like we need to save money and we are pausing it, we will come to it when we have money,” Adoboli said.

“They are important projects. They lead to the pride of the country, but they need to be paused. The second one, is to bring the tax exemption policy back immediately and remove the exemption… no more exemptions, all the big businesses people should take the hit right now.

“If we don’t, things are going to get so much worse. We shouldn’t be in the position where we are now, basically exposed to all these gyration in the global market, and the gyration in the global market are going to be so much worse,” Adoboli said.