Deputy Minister of Finance, Mr Kwaku Kwarteng says the government appreciated the weaknesses in the tax exemption regime and would introduce new measures in the Exemptions Bill to deal with the shortcomings.
However, he said, the Exemptions Bill currently before Parliament when passed would not cancel exemptions already granted.
"The tax reform will not operate in a way that will undermine the covenant that the government has already made with investors and we will protect you in that regard," he said to Chief Executives at a breakfast meeting organized by the Ghana Investment Promotion Centre.
He said government was sensitive to the needs of the business community and would not do anything untoward to breach the trust, adding that all signed agreements would be allowed to run their full course.
Mr Kwarteng said the government was considering deepening its relationship with the private sector in key priority sectors of the economy to boost business activities.
He said while the government was willing to give tax exemptions, businesses must also be prepared and be ready to offer something in return for such support.
