nor will you be the last, to come to this realisation –
Madam Speaker, the five years exemption period granted to Companies engaged in the construction for letting or sale of residential premises under Section 11(6) of Act 592 was mainly to create affordable accommodation for the middle to low income earners. Unfortunately, the real estate developers focused on building for the high and upper class of the society while abandoning the original purpose. The government proposes to abolish the general five year tax exemption for real estate developers.
From Ghana’s 2011 budget