I won’t continue with 1D1F tax exemption as Finance Minister - Ato Forson vows

The Minister of Finance, Cassiel Ato Forson, announced a major change. The government will end the tax exemption policy under the One District, One Factory (1D1F) initiative. This decision comes due to widespread abuse of the policy.

Mr. Forson made this announcement while addressing Parliament. He cited evidence showing serious misuse of the tax exemptions.

“As Finance Minister, I cannot continue with the 1D1F tax exemption,” he stated. He noted that evidence suggests significant abuse of the policy.

The initiative aimed to support industrialization and economic growth. However, the tax exemptions were exploited in ways that undermined its purpose.

Mr. Forson assured Parliament that the government is committed to promoting local industries. He mentioned they would seek alternative measures for accountability and fairness.

“We will support genuine businesses that contribute to our economy,” he said. “But we must end policies that create loopholes for exploitation.”