McDan Lauds Govt’s Economic Policies

February 2, 2018 / Comments (0)

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The Chief Executive Officer (CEO) of McDan Shipping, Mr. Daniel McKorley, has lauded the government for its economic policies.

Sharing his views on one year economic policies of the ruling New Patriotic Party (NPP) with some journalists in Accra, Mr. McKorley said the government had taken bold decisions that had the tendency of growing economy.

He said some economic achievements of the government were reduction in taxes, reduction in the cost of borrowing, job creation, increased employee incentives and the reduction in the prices of goods and services.

Touching on the paperless policy at the ports, for instance, he said the policy would bring great relief to importers and exporters. Mr. McKorley said the paperless policy would shore up revenue leakages.

Addressing System

He started that digital property addressing system, which was to create an avenue for new business and also help in revenue collection, was a great “gamer changer”.

Mr. McKorley expressed satisfaction with some of the economic policies promised by the government as they had the potential to transform the national economy.

He said under its policy of shifting the focus of economic management from taxation to production, the government had outlined a number of measures to reduce corporate tax rate from 25 per cent to 20 per cent and remove import duties on raw materials and machinery for production within the context of the ECOWAS Common External Tariff (CET) Protocol.

Other measures are abolishing the special import levy, reducing VAT for micro and small enterprises from the current 17.5 per cent to the 3 per cent flat rate and introducing tax credits and other incentives for businesses and hire young graduates from tertiary institutions.

Mr. McKorley added that those policies would lead to an increase in corporate profits, reduction in taxes, more corporate profits and expansions of employment opportunities.

Source: Daily Graphic Newspaper, February 2, 2018

 

 

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