The Chief Executive Officer of Joy Industries Limited, Dr. Manfred Takyi has appealed to the government to exempt some influential manufacturing companies, who contribute a chunk of the country’s GDP, from some taxes so as to help their businesses have firm grounds and contribute to the flourishing of the economy.
Dr. Takyi made the appeal when the Parliamentary press corps paid a familiarization visit to the factory of Joy Industries Limited at Akwadum in the Eastern Region.
He explained that the tax burden on privately-owned manufacturing companies is so huge that it mostly has a toll on their finances and eventually increases their production cost and selling price.
According to Dr. Takyi, even if the government cannot afford to exempt some manufacturing companies from some taxes, it can alternatively tax them and return the tax to them in a “package” which will help them expand their business and help to grow the economy.
He however maintained that even in the face of high taxes, Joy Industries Limited has maintained the quality of its products for the collective ten years it has been in existence.