The proposed tax cuts by the Akufo-Addo government are meant to grow small- and medium-scale enterprises (SMEs), Alan Kyerematen, Trade Minister-designate, has said.

According to him, the government was aware of the current challenges bedevilling SMEs, hence would ensure that these challenges were dealt with.

Speaking during his vetting on Monday, 23 January, he said: “We (government) have plans specifically in respect of small- and medium-scale enterprises and business development. Number one is to reduce the cost of doing business. That includes reducing the taxes and levies that are currently imposed on these companies and also facilitating access to finance. We have discussed the issue of supporting market development interventions, which is also helping them to promote their goods; we have talked about access to technology.

“We are going to ensure that in the six areas we have already discussed, at the centre of our intervention will be the small and medium enterprises, not leaving out the micro enterprises but essentially the small and medium enterprises.

“Basically, this is going to be the focus of what we will be doing.”

Source: Ghana/ClassFMonline.com