General News of Friday, 23 June 2017Source: www.ghanaweb.comIllicit financial flows: Akufo-Addo to set up ‘tax-invading’ haven - TJC hintsplay videoPresident Nana Addo Dankwa Akufo-AddoChairman of the Ghana Tax Justice Coalition, Vitus Azeem has hinted that the 6-month-old Akuffo-Addo led government is having a serious discourse on revisiting former President Kufour administration’s decision to set up an offshore banking facility in Ghana. Mr. Azeem who described the banking facility as a tax haven said the move if implemented will worsen Ghana’s lost to illicit financial flows amidst the myriad challenges including corruption and looting of public resources. ‘It is very sad to note that the current NPP government is revisiting the Kufour administration’s decision to set up an offshore facility in Ghana, a form of tax haven’. In September 2007 the then President John Agyekum Kufour launched an in-Country Offshore Banking Services in Accra. According to Mr. Azeem the facility would have encouraged tax evasion, urging the current government to desist from implementing such a plan.

Source: GhanaWeb June 23, 2017 17:37 UTC