December 02, 2022

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Private Universities to enjoy 25% tax cut from Government – Dr. Bawumia

Vice President Dr. Mahamudu Bawumia has revealed that government will soon scrap the 25% corporate tax imposed on Private Universities as part of government’s effort to support the private tertiary institutions.

This is in the wake of several appeals to Government by private institutions to abolish the 25% corporate tax to reduce the financial burden though some civil society organizations disagree.

This was disclosed in a speech read on his behalf at the 11th Graduation ceremony of Presbyterian University College of Ghana (PUCG) at Abetifi in the Eastern region.

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.”

Source: ghanacrusader.com

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