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Graphic Online BY: Maxwell Akalaare Adombila 30.5k Shares 705 The International Monetary Fund (IMF) has expressed concern about the continuous granting of generous tax exemptions to companies and investors at a time when the economy needs increased revenues to navigate its way out of a debt trap. The fund said tax exemptions remained the weakest link to all efforts to improve tax collection, necessary to narrow the fiscal deficit and tame a debt burden that now required almost half of total revenue and grants to service. Its Resident Representative to Ghana, Dr Albert Touna Mama, said in response to Graphic Business’s questions that exemptions were depriving the State of billions of cedis every year, with conservative estimates showing that between three per cent and five per cent of Gross Domestic Product (GDP) was lost every year to the current tax holiday regime.

Dankwa akufoAlbert touna mamaInternational monetary fundTax national health insurance levyResident representativeGraphic businessGross domestic productPresident nana addo dankwa akufoTax exemptions billNational health insurance levyNation addressPresident akufo addoExtended credit facilityTax exemptions deny nation of billions cedisசர்வதேச பண நிதிவரி தேசிய ஆரோக்கியம் காப்பீடு வசூல் செய்தல்