Recently, the Minister of Finance and Economic Planning, Mr. Ken Ofori-Atta announced that the Government is working to reduce corporate income tax by 5% next year. This means businesses would pay 20% of their profits as corporate income tax as against the current 25%.
The Finance Minister has also proposed this new measure would be presented by the 2018 budget to Parliament on 15 November 2017, subject to the approval of the House’s approval.
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