- Ato Forson ends the 1D1F tax exemption due to misuse
- The government remains committed to supporting legitimate businesses
- Alternative measures will be explored to ensure fairness
The Minister of Finance, Cassiel Ato Forson, has announced that the government will terminate the tax exemption policy under the One District, One Factory (1D1F) initiative due to widespread misuse.
Speaking before Parliament, Mr. Forson revealed that evidence presented to the House highlighted significant abuse of the policy.
“As Finance Minister, I cannot continue the 1D1F tax exemption because the evidence before this House shows it has been severely misused,” he stated. He clarified that while the initiative was intended to foster industrialization and economic growth, the tax exemptions had been exploited, compromising its original purpose.
Mr. Forson assured Parliament that the government remains dedicated to supporting local industries but will seek alternative approaches to ensure accountability and fairness.
“We will support legitimate businesses that contribute to our economy, but we must end policies that allow for exploitation,” he added.
