Mr Issa Ouedraogo, a social entrepreneur in the agricultural sector, has called for tax exemptions for the Ghanaian indigenous social enterprises during the Ghana Social Enterprise at the British Council.
Mr Issa Ouedraogo urged the legal body of the country to take into the consideration of coming up with policies that would exclude the social enterprises from paying taxes. He stated that, these local enterprises usually do not have very large capital in financing their business, but their existence contributes massively to socio-economic development, yet they are made pay huge taxes.
“Social enterprises do more work than NGOs, but they pay taxes, like any other business. We consider three main things namely planet, people, and profit. The people at the centre, you have to take care of the environment and also make sure that it’s profitable.
“If NGOs who don’t do that much are exempted from many taxes, that makes it difficult, that is why I am calling on the registrar general so that there will be a room for social entrepreneurs where they will be exempted from certain thing.”
Mr Issa Ouedraogo
As an entrepreneur in the agriculture sector, Mr Ouedraogo gave out some reasons for the low performance of the agricultural sector in the country. He noted that some indigenous lawyers, local banks, are constantly conniving insidiously to milk the country’s Agricultural sector dry.
According to him, until the government takes steps to put a check, nothing valuable would come out of the agricultural sector while these banks and lawyers would continue to whitewash the surface of the fiscal policy regime and beneath their activities.
Mr. Ouedraogo speaking on the theme ‘Partnerships for sustainable development: social enterprises as catalysts for inclusive growth in Ghana,’ indicated that the foreign direct investment into Ghana’s Agricultural sector appears good in the books, but falls short in terms of clarity, conformity, and integrity.
GOVERNMENT NEEDS TO BE VIGILANT
Mr Ouedraogo citing his experience as an example said that, he had a personal engagement with one French organization which came into the country as social impact investors, and cunningly took over the company he personally struggled to birth in the last two decades with his sweat and toil without the support of any government institution.
According to him, he urged the government to be vigilant and take the necessary steps in investigating the modus operandi of some of these law and banking firms. He believes some Ghanaian lawyers and banking firms are working in the cover of darkness for monetization of justice.
In concluding, Mr Ouedraogo pleaded with the government to ensure issues on the tax exemptions are not swept under carpet. Also, a serious investigation must be made into some of these banks who charge a cutthroat interest rate on the blind side of the central government and engage in illegal dealings with local and foreign partners, he noted.
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