Government has announced tax incentives for Under-35 entrepreneurs.
The move to be enjoyed by entrepreneurs of age 35 years and below is part of measures by government to “stimulate investment and to shape economic behaviour”.
This was revealed by the Finance Minister, Ken Ofori-Atta when he presented the 2018 Budget Statement and Economic Policy in parliament on Wednesday, 15 November, 2017.
He revealed government will also review the current income tax thresholds by pegging the tax-free threshold to the current minimum wage.
This will protect low-income earners and ensure fairness in income tax administration, he told parliament Wednesday.
Meanwhile, the 2018 Budget focuses mainly on tax reforms, by specifically roping in many people in the informal sector into the tax net.
The Budget also captures initiatives to be introduced by government to block loopholes and rope in the informal sector into Ghana’s tax net.
