Government to lure multinational firms with 10-year tax holiday

Government is considering granting a ten year tax holiday to major Multinational firms.

The move, according to the Chief Executive Officer of the Ghana Investment Promotion Centre, Yoofi Grant, is to get at least three of such firms to locate their headquarters to Ghana.

The centre is currently reviewing some major components of the GIPC Act to make it more business friendly.

Paramount among the review is the reduction in the minimum capital requirement and the act which bans foreigners from operating in some markets across the country.

Mr. Grant noted this Thursday in an exclusive interview with Starr Business’ Fred Dzakpata on the side-lines of the Annual Economic Counsellors Dialogue in Accra.

He said “to really position Ghana as the entry point to West Africa, maybe we should also give a ten-year tax holidays to big companies that want to establish their regional offices in Ghana to attract the bigger players like Nike, Microsoft, Google etc…It is not sealed. It is one that we are discussing because it [involves] a lot of things.”