The Minority yesterday raised concerns about four agreements laid in Parliament for the avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income and capital gains.
The agreements laid in Parliament by the Minister for Evaluation and Monitoring, Dr Anthony Osei Akoto, on behalf of the Finance Minister, were between Ghana and the Czech Republic, Morocco, Mauritius and Singapore for the avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income and capital gains.
The four agreements have been referred to the Finance Committee for scrutiny.
However, after the laying of the four agreements, the ranking member of the Finance Committee and National Democratic Congress (NDC) Member of Parliament for Ajumako/Enyan/Essiam in the Central region, Cassiel Ato Forson, expressed concern about the manner in which the four agreements had been rushed to Parliament in a day for consideration and ratification.
According to him, the four agreements could easily erode the tax base of the country since Ghana does not have much investment or companies operating in the aforesaid countries.
Speaking to the parliamentary press after the laying of the agreements, Ato Forson said that looking at the low level of Ghanaian investment in those four countries, some people in government could hide behind those agreements to benefit from companies from those countries that intend to invest in Ghana.
He said the government ought to be cautious with the agreements and carefully look at the fiscal cost to the nation, as the benefits that will accrue from the agreements.
He indicated that the Minority at the committee stage would scrutinize the agreements in terms of the fiscal cost to the state and the benefits thereof, and that if those agreements are not in the best interest of the country, the minority will object to them.
In a related development, the Minister for Evaluation and Monitoring, also laid on behalf of the Finance Minister a request for waiver of import duties, import VAT, Import NHIL, ECOWAS Levy, Special Import Levy, amounting to €2,302,469.58 on project equipment and materials for the construction of an Environmental Monitoring Laboratory at the Paa Grant University of Mines and Technology (UMaT) in Tarkwa.
It was also referred to the Finance Committee for consideration.
By Thomas Fosu Jnr