Any company that made a donation to the COVID-19 National Trust Fund will enjoy some tax holidays, former Chief Justice Sophia Akuffo, Chair of the Board of Trustees, has disclosed.
The tax relief reward by the Ghana Revenue Authority (GRA), according to the retired judge, will be manifest when the benefactor companies file their tax returns.
“We’re also happy to announce that the Ghana Revenue Authority has confirmed that tax reliefs will be available to donors who make donations to the COVID-19 National Trust Fund when filing their tax returns”, she said at the Jubilee House on Tuesday, 26 May 2020.
“This is subject to fulfilling requirements that the GRA has set out in its recently published guidelines for their implementation of the tax incentives in support of taxpayers against the pandemic,” she noted.
The Fund has, so far, raked in over GH¢50 million.
COVID-19 National Trust Fund
President Nana Addo Dankwa Akufo-Addo, on Sunday, 29 March 2020, inaugurated the Board of Trustees of the Fund at a brief ceremony at the seat of the nation’s Presidency.
The Board of Trustees has been receiving contributions and donations from the public to assist in the welfare of the needy and the vulnerable.
The other members of the Board are Archbishop Justice Ofei Akrofi, Mr Jude Kofi Bucknor, Gifty Afenyi-Dadzie, Mrs Elsie Addo-Awadzie, Dr Ernest Ofori-Sarpong, Dr Tanko. Mr Collins Asare will act as Secretary to the Board.
Inaugurating the Board, President Akufo-Addo noted that since the outbreak of the virus in Ghana, especially during the course of last week, organisations and individuals have made donations, with others wanting to find out how they can also contribute to the cause.
“I felt that the best way was to establish a public trust, so that the monies that come do not get intermingled with Government money and all of those problems. A public trust that is to be managed by an independent body of trustees, so that people will see that these monies are being properly accounted for and properly deployed,” he said.
The President added that the work of the Board will complement the efforts being made by the State in catering for the poor and vulnerable, stressing that “whatever money we raise, that is the target”.
Pledging the full support of government for the work to be undertaken by the Board, the President said: “I have full confidence in the integrity of all the people around this table, and of your dedication to the public welfare of our country. That is why I have chosen you to say on this committee.”