Companies under 24-hour economy to enjoy tax incentives – Mahama

The flagbearer of the National Democratic Congress (NDC), John Dramani Mahama, says he will incentivize companies that sign on to his 24-hour economy policy when he is elected president.

Speaking in Takoradi in the Western Region, Mahama said, “I have said this before; this is an idea the NDC government is ready to work on. We will make arrangements for companies that run the 8:00 a.m. to 6:00 p.m. shift to hire more youth so they can also work at night. In Europe and the USA, it is already being done. We want all companies to have that opportunity. Whether it is a security concern or not, the government will create security for them to work without fear.”

Mahama reiterated that any company that registers with the 24-hour economy will enjoy a tax reduction, “so you can invest more money in your business and hire more hands.”

“In addition, any company or working force that registers with the 24-hour economy and only produces Made in Ghana goods will enjoy a tax reduction. In Ghana, the government has the biggest budget of all businesses; it is even bigger than Gold Fields’ budget. Therefore, if a diverse range of businesses and factories decide to produce only Made in Ghana goods and hire more youth into their workforce, the government will use its spending power to boost the economy, ensuring that the companies and factories make more to pay and hire more workers.”

Mahama also stated that “the electricity power used by factories and companies registered under the 24-hour economy will have a reduced rate for lower usage when they run during the night under the 24-hour economy.”

“They won’t be paying the normal rate that other companies will be paying, so they can reinvest in their company and hire more youth under the 24-hour economy,” the former president added.

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