Connect with us


Akufo-Addo gives his in-law GH¢136.7 Billion tax exemption –




At a time he has compelled Ghanaians to pay more taxes to his government, President Akufo-Addo has offered a tax exemption of $23,983,033.43 to a company called Platinum Properties Limited (PPL) to put up a hotel facility in Accra.

PPL is a Special Purpose Vehicle owned and controlled by Inter-Afrique Holding Limited(IAHL) set up to put up the hotel facility called the Pullman Accra Airport City Hotel.

IAHL on the other hand is owned by Dr. Kwame Nyantakyie-Owusu, one of President Akufo-Addo’s in-laws. Kwame Nyantakyi-Owusu is married to Regina, the younger sister of Rebecca Akufo-Addo, the President’s wife.

At an exchange rate $1: GH¢5.7, this means Kwame Nyantakyi-Owusu will not be paying an amount of GH¢ 136,703, 290.55 as tax to the state following the exemption given him by his in-law.

A letter from the President dated November 13, 2019, signed on his behalf by his Executive Secretary, Nana Asante Bediatuo, who is his cousin, to the Ghana Investment Promotion Centre (GIPC) granting the tax exemption reads;

“Reference is made to your correspondence numbered LE09/37P/01 dated 8th November, 2019, seeking approval for Platinum Properties Limited to be granted strategic Investor status to enjoy exemptions from various taxes in relation to the development of the Pullman Accra Hotel and Serviced Apartments Project in Airport City, Accra (the “Project”).

I am pleased to inform you that pursuant to section 26 (4) of Ghana Investment Promotion Centre, 2013 (Act 865) and on the recommendation of the Board of Ghana Investment Promotion Centre, the President of the Republic has granted approval for the following:

  1. Exemptions from VAT on imported materials for the construction phase of the Project;
  2. Exemptions from duties on imported materials for the construction phase of the Project; and
  3. Exemptions from VAT on local purchases of building and construction materials specific to the Project.

In light of Article 174 (2) of the Constitution, the Minister for Finance is, by a copy of this letter, hereby directed to obtain the requisite approval of Parliament, to give effect to paragraph two (2) above.

Please accept the President’s best wishes.”

The Finance Minister, Ken Ofori-Arthur, who is also a cousin of the President has sent a memorandum to parliament for parliamentary approval to be given for the tax exemption. The memorandum, a copy of which this paper has, also reads

“Parliament is respectfully invited to consider and approve the waiver of tax liability amounting to Ghana Cedi equivalent of US$23,983,033.43 in favour of Platinum Properties Limited (Strategic Investor, under section 26 (4) of the GIPC ACT 2013, ACT 865) on materials, plant, machinery and equipment. The waiver covers import Duties, Import VAT, Import NHIL, Import GETFUND, Domestic VAT, NHIL and GETFUND.
Executive approval was granted to Platinum Properties Limited as a Strategic Investor, pursuant to section 26 (4) of the GIPC Act 2013. (Act 865) on the recommendation of the Board of the Ghana Investment Promotion Centre (GIPC) for tax exemption on the following:

i. Exemption from the VAT on import of materials for the construction of the Pullman City Hotel project.
ii. Exemption from the duties and on imported materials.
iii. Exemption from VAT on local purchases of building and construction materials.

In line with Article 174 (2) of the 1992 Constitution, the waiver for tax exemption is hereby submitted for the consideration and approval of Parliament.”

According to the memorandum, The Pullman Accra Airport City Hotel & Serviced Apartments is a dual-hospitality project, positioned to become Ghana’s largest and most distinguished hotel facility. It is situated at Plot 15, Airport City, which houses one of Ghana’s most iconic real estate developments such as Marina Mall, Marriott Hotel, Holiday Inn Hotel, SSNIT Emporium, Ibis Styles Hotel, Manet Towers 1, 2 & 3, Silver Star Tower and Stanbic Heights, with other notable developments underway.
The memorandum states that the Project is being promoted by Platinum Properties Limited (“PPL”), a SPV owned and controlled by Inter-Afrique Holdings Limited (“IAH”) and the Ghana Infrastructure Investment Fund (“GIIF”).

Source: Ghana|Daily Post

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *


Video: Fomena NPP Chairman invokes thunder strike on upcoming primaries over bribery –




New Patriotic Party (NPP) Fomena Constituency Chairman, Mr.Akwasi Nti Asamoah, has dared past and present members of Parliament in the Constituency who feel he collected money from them before they became MP’s to cause thunder to strike him (Akwasi Nti) if he had in anyway extorted monies from them before they ascended the reigns of leadership in the Constituency.

Fomena constituency has a record of one fixed term for past members of parliament.

He further provocatively dared them to go to Antoa to invoke the river deity to kill him.” Apart from this aspirant (Philip ofori Asante) none of the past MP’s were well do past him before they became MP’s.

I want to state unequivocally that I am better off than all the past and present MP’s in the Fomena Constituency. I have even used my resources to support some of them. it is, therefore, not practicable for me to have collected a cedi from any of them,he said. Mr. Akwasi Nti’s statement was in reaction to questions posed to him by KDTV GHANA Journalist when an aspiring Parliamentary Candidate for Fomena Constituency seat Mr.Philip Ofori Asante submitted his completed nomination forms to the constituency Election Committee at the party’s office at Fomena.

Credit: KDTV

watch the video below:


Continue Reading


Audio: Do your cocaine bussness and leave Frimpong Boateng alone – NPP man tells Kennedy Agyapong




The center can not hold within the New Patriotic Party as the missing excavators and the galamsey menace has created tension within some bigwigs in the party.

The loud speaking NPP member of parliament for Assin Central, Hon. Kennedy Agyapong has severally accused the Minister for Environment, Science, Technology and Innovation Prof. Frimpong Kwabena Boateng of being the cause of this brouhaha with the galamsey and the missing excavators.

In recent allegation, Kennedy agyapong revealed on his Net2 TV’s programme the seat hosted  by Justice Anan that he has in his possession receipts of NPP members who was directed by Prof. Frimpong Boateng to buy Excavators from the suspended Central Regional Vise Chairman Ekow Horace Ewusi.

In the revelation, Kennedy Agyapong dared the NPP National Youth Organizer Nana Boakye to come out and vindicate himself if he has not bought some of the excavators from Ekow Ewusi. has intercepted a recorded phone call conversation between Justice Anan and an allied of Prof. Frimpong Boateng where the person was heard telling Justice Anan and his boss to keep on with their cocaine business.

Listen to the voice below:


Continue Reading


Disappointing Akufo Addo and George Oduro has failed the People of New Edubiase – Musah Fusieni –




The Deputy Organizer of the National Democratic Congress at New Edubiase constituency in the Ashanti Region, Fuseini Musah popularly known as Tenerley has lashed out at the ruling New Patriotic Party (NPP) for failing woefully in the corruption fight after promising to jail past corrupt officials before 2016 elections.

According to him, the president has failed to fufill all promises he made before 2016 elections.

According to Teneley, if some officials of the past administration were corrupt as the NPP trumpeted during their 2016 campaign, they would have jailed or prosecuted almost half of the past officials to serve as a deterrent to a justify their claims in opposition.

He continued that, Nana Addo Dankwa Akufo-Addo and the MP for New Edubiase constituency who Double as deputy Agric Minister, Hon. George Boahen Oduro has failed extravagantly and Ghanaians have lost hope in both and will vote against them come December general elections because the hardship in the country is unprecedented.

George Boahen Oduro, MP for New Edubiase & Deputy Minister for Agricultural

George Boahen Oduro, MP for New Edubiase Constituency & Deputy Minister for Agricultural

In his view, majority of Ghanaians are going through hardships whiles some of his appointees are seriously amassing wealth at various Office. He said this in an interview on ‘MAAKYE’ Morning Show Hosted on Edubiaseman fm by Nana Boroo after the Incumbent MP Hon.George Oduro submitted his Parliamentary nomination forms.

Source: ASP Sampene /

Continue Reading
Advertisement Enter a d code here
Advertisement Ente r ad code here


Copyright © 2020 Ghana Publisher.