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NewsParliament reconvenes on June 11 to deliberate $335m tax exemption proposal

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Parliament reconvenes on June 11 to deliberate $335m tax exemption proposal

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Parliament is scheduled to resume from recess on Tuesday, June 11, 2024 as announced in a statement issued by the Speaker of Parliament, Alban Bagbin, on Monday, May 27.

The release stated that the Speaker is exercising his authority to reconvene the house under Order 58 of the standing orders of Parliament.

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“Pursuant to Order 58 of the standing orders of the Parliament of Ghana, I, Alban Sumana Kingsford Bagbin, Speaker of Parliament, hereby give notice that the third meeting of the fourth session of the eighth Parliament of the Fourth Republic shall commence on Tuesday, the 11th day of June 2024 at ten o’clock in the forenoon at Parliament House, Accra.”

When Parliament resumes from recess on Tuesday, June 11, 2024, one of the key agenda items will be the government’s proposal to grant approximately $335,072,712.13 in tax exemptions to 42 companies participating in the One District One Factory initiative.

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The tax breaks are facilitated by the Exemptions Act, 2022 (Act 1083), which was originally presented to Parliament by former Minister for Finance, Ken Ofori-Atta, in 2022. This Act aims to support the government’s industrialization efforts by providing financial relief to companies involved in the initiative.

During the resumption of Parliament, members will deliberate on this critical issue, among others, to assess the potential impact of these tax exemptions on the national economy.

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