GHANA Loses $2.27bn anually

This is really serious!
It is estimated that Ghana loses around $2.27 billion every year in corporate tax incentives granted multinational businesses.
This amount is three times the country’s budget allocation to the health sector.
According to a new report published yesterday by ActionAid and Tax Justice Network-Africa (TJN-A), the negative impacts of corporate tax incentives include giving undue advantages to big firms and multinationals at the expense of smaller and domestic industries.
It said the development also promotes corruption by enabling special treatment to be given to specific companies.
The report said West African countries are losing an estimated US$9.6 billion of revenue each year by granting tax incentives to foreign companies.
The report noted that three countries – Ghana, Nigeria and Senegal – are losing an estimated $5.8 billion a year through the granting of corporate tax incentives.
It stated that Ghana loses around $2.27 billion, Nigeria around $2.9 billion, and Senegal up to $638.7 million.
source: vibeghana