The Minister of Finance, Cassiel Ato Forson, has announced that the government will discontinue the tax exemption policy under the One District, One Factory (1D1F) initiative due to widespread abuse.
He made this declaration while addressing Parliament, citing evidence of serious misuse of the policy.
“As Finance Minister, I’m not going to continue with the 1D1F tax exemption because the evidence before this House suggests it has been abused badly,” Mr Forson stated.
He emphasised that while the initiative aimed to support industrialisation and economic growth, the tax exemptions had been exploited in ways that undermined its original intent.
Mr Forson assured Parliament that the government remains committed to promoting local industries but would seek alternative measures to ensure accountability and fairness.
“We will support genuine businesses that contribute to our economy, but we must put an end to policies that create loopholes for exploitation,” he added.
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