Gov’t to abolish 25% Corporate Tax on Private Universities
The Vice President of Ghana, Dr. Mahamudu Bawumia has disclosed that government is working hard towards the abolishment of the 25% corporate tax on Private Universities as part of government’s support to the private Tertiary Institutions in the country.
Private Universities in Ghana have appealed severally to Government to abolish the 25% Corporate tax to reduce the financial burden though some civil society organizations disagree.
However, according to Dr. Bawumia “Government is working assiduously towards the removal of the 25% corporate tax on private universities.”
The Vice President said this Saturday at Abetifi in the Eastern region in a speech read on his behalf by the Deputy Eastern Regional Minister, Joseph Tetteh during the 11th Graduation ceremony of Presbyterian University College of Ghana (PUCG).
The Vice President also mentioned that “Over the years, successive governments have been confronted with the challenge of inadequate funding for higher education. As part of efforts to tackle this, government has committed itself to the establishment of a research fund for higher learning.”
He stated that, government is reviewing the National Council for Tertiary Education Act 1254, National Accreditation Act 744(2007) to provide clearer understanding of their functions and strengthen their mandates to improve efficiency.
He charged the graduates to use the skills and knowledge acquired to position themselves well in order to achieve their vision in life.
The Acting Moderator of Presbyterian Church of Ghana who doubles as the Acting Chancellor of PUCG, Rev. Dr. Victor Omoe Abbey called on government to support private Universities in the country and consider extending subsidies to Private University Students because most students struggle to pay their fees .
“It must be noted that most students enroll in Private Universities only when they are unable to secure a place in Public Universities. Majority of these students are from families where parents have to struggle to pay their fees. We therefore call on the government to consider extending the subsidies to the mission based Universities.”
85 graduates made up of 39 males and 46 females out of the 837 graduates had First Class Honors while 401 obtained Second Class (Upper Division), 248 secured Second Class (Lower Division ), 88 went home with Third Class while 15 graduates went home with a Pass.