Private Universities in the country have hinted that they may be forced to increase school fees if government goes ahead to enforce a new tax regime which requires private universities to pay corporate taxes.
The Internal Revenue Act has been amended to pave way for private university to pay corporate taxes, but the Chairman of the Conference of Heads of Private Universities in Ghana, Professor Kwesi Yankah has stated that the new tax would have serious implications for private universities.
In an interview on the Citi Breakfast Show Chairman of the Conference of Heads of Private Universities in Ghana, Mr. Yankah stated that employment rate would be threatened, “considering the large number of people that are employed by private university throughout the country, it is not good news for the employment situation.”
He also added that he fears the new tax could lead to the collapse some of the new universities.
“It threatens to collapse some of the younger ones that are just about starting” he added.
He emphasized on the charitable ones adding that “it will make it more and more difficult for them to make further investment.”
An Entrepreneur and Philanthropist. Editor-in-Chief of www.233times.com. A Senior Journalist with Ghanaian Chronicle Newspaper. An alumnus of Adisadel College where he read General Arts. He holds first degree in Bachelor of Arts from the University of Ghana; Political Science (major) and History (minor). He has also pursued MSc Corporate Social Responsibility (CSR) and Energy with Public Relations (PR) at the Robert Gordon University in the United Kingdom. He is a 2018 Mandela Washington Fellow (YALI) who studied at Clark Atlanta University on the Business and Entrepreneurship track. His mentors are Rupert Murdoch, Warren Buffet, Sam Jonah, Kwaku Sakyi Addo and Piers Morganview all posts by: Nana Kwesi Coomson
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