Deputy Finance Minister nominee, Thomas Nyarko Ampem, has called for a reevaluation of the tax exemption policies implemented under the 1D1F programme, describing them as too generous.
In his appearance before the Appointments Committee of Parliament on February 24, 2025, Ampem emphasized the need for a more strategic approach to tax waivers, ensuring that they are granted in a manner that provides real value to the nation.
“The tax regime under 1D1F was too much, it was important for some work to be done to ascertain whether the government was getting value from it,” he noted.
Ampem’s remarks suggest a shift in policy under the NDC government, which he clarified will not eliminate tax exemptions for private industries but will instead apply them more judiciously.
“If my government will introduce any tax regime, it will be done sparingly,” he explained.
This signals a departure from the previous administration’s approach and a focus on targeted fiscal policies that align with long-term economic goals.
The nominee’s commitment to refining tax policies also ties into his broader vision of enhancing the efficiency of government operations, which includes leveraging technology for improved revenue generation.
Further elaborating on his fiscal plans, Ampem emphasized the need to support Ghana’s financial sector through a more stable and predictable economic environment.
He advocated for a collaborative, non-partisan approach to discussions on the Domestic Debt Exchange Programme (DDEP), stressing that it would play a key role in stabilizing the financial system.
Ampem highlighted the importance of securing the country as part of a 24-hour economy, which will run continuously to support economic activities. His vision aims to boost investor confidence and promote a more secure and prosperous future for Ghana.
