Minority Demands Full Disclosure on 24-Hour Economy Tax Incentives

The Minority in Parliament has called on the government to provide a full accounting of all tax incentives granted under the 24-Hour Economy initiative, demanding the publication of beneficiary companies and the total revenue lost to state coffers.

Addressing a press conference in Accra on Tuesday, November 10, the Ranking Member on Parliament’s Finance Committee, Dr. Mohammed Amin Adam, questioned the transparency and execution of the policy’s promised concessions.

Under the programme, the government introduced a 50 per cent tax rebate for companies running three shifts and a 25 per cent rebate for those operating two shifts. Additional incentives included import duty waivers on industrial machinery, discounted off-peak electricity tariffs, and 24/7 port clearance services.

Dr. Amin Adam urged the Ministry of Finance and government agencies to clarify whether the tax concessions were formally laid before Parliament for approval, how many businesses have been certified, and the exact financial value of the forgone tax revenue.

“The Government must account for the implementation of the tax incentives it promised the private sector under the original 24-Hour Economy before it talks about new incentives in the 2027 Budget,” Dr. Amin Adam emphasized.

The Minority spokesman also queried whether the promised Time-of-Use (ToU) electricity tariffs for night-shift operations had taken effect, insisting that no new tax breaks should be introduced in upcoming budget presentations until existing commitments are fully audited and made public.