Gov’t should review the policy of tax before profit to help rural banks – Banker
Mr Essieh Pascal, Chairman of Nafana Rural Bank Limited stressed that delinquent loans are tremendously affecting the bank and so loan defaulters must do well to settle their loans granted them.
Chairman of the Board of Governors for the Nafana Rural Bank Limited, Mr Essieh Pascal says that Rural banks in Ghana are currently facing lots of crises due to the Covid-19 pandemic that affected the country's economy.
He made the call at the 17th and 18th Annual General Meeting of Nafana Rural Bank Limited held at the headquarters of the Bank at Sampa, the Jaman North District capital.
He added that the major challenge of the Bank is the corporate tax which was increased from 8% to 25% in 2016 hence the need for government to reconsider the decision to introduce another tax before profit since it can lead to the collapse of a number of institutions struggling to be on their feet after the covid-19.
He stressed that delinquent loans are tremendously affecting the bank and so loan defaulters must do well to pay up monies granted them as a matter of urgency to ensure a successful operation of the Bank.
Nana Ama Asiedu Bono Region