Business News of Friday, 27 Jan 2012
Source: Daily Guide
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Parliament yesterday waived a taxation guilt on apparatus and materials, corporate income taxes as good as ostracise income taxation in a sum of $4,666,833.00 and GH?1,368,139.38 respectively for a well-spoken execution of a Mampong supply H2O reconstruction and enlargement project.
The plan is being financed by a Government of Ghana and a Export Import Bank of a United States of America during a cost of $23,112,723.00 to capacitate Ghana Water Company raise entrance to beverage H2O and urge capability of inhabitants in a catchment area.
A news of a Finance Committee, chaired by James Avedzi Klutse, indicated that a taxation waiver was required for a well-spoken doing of a project.
However, before a taxation waiver was adopted, some members of a House voiced their beating about a materials on that supervision requested for taxation waivers.
The materials enclosed one-unit hire car pipes and fittings, cement, paint, bureau desk, chairs, cabinets, tables, shelves, digital camera, stationary, tonner, microwave, coffee builder and utensils.
The rest were H2O diagnosis plant accessories, building and polite materials; electrical equipment, photocopier and fax machine, laptop, scanner, desktop mechanism and software, printer, one section derrick mounted truck, pumps, three-unit D/C pick-up and two-unit tavern cars.
The Minority Spokesperson on Finance, Dr. Anthony Akoto Osei, who is also a Member of Parliament (MP) for Old Tafo, could not know because many of these materials such as paint, bureau desks, chairs, tables, still and others should be alien by a executive and taxes on them waived by supervision when these equipment could have simply been procured in Ghana.
Dr. Akoto Osei, a former Deputy Minister of Finance and Economic Planning, called for a buying of such materials in a internal marketplace in destiny contractual arrangements.
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