Covid-19 Nat’l Trust Fund bags over ¢50m; donors to enjoy tax holidays

An amount of ¢50,600,000 has so far been donated to the Covid-19 National Trust Fund in the last five weeks.

Chairperson of the Fund and a former Chief Justice, Sophia Akuffo disclosed this at a ceremony at the Jubilee House to donate some PPE to six institutions and Associations.

“We have so far received in terms of cash ¢50.6 million which includes the cedi equivalent of six hundred and six thousand US dollars,” she disclosed.

“Additionally, we are also in the process of setting up our in house procurement systems in fulfilling the requisite requirement of the Procurement Act as amended by the Procurement Act of 2016 which will finally position us to be able to commence utilisation of the monies that have been donated to the Trust for the fulfillment of our mandate,” she further added.

Tax reliefs for Covid-19 donor companies

In an interview on Accra-based Citi FM, Communications Officer for the Fund, Kwame Bempah Osei-Hwereh indicated that companies that donated will enjoy tax holidays.

The package, according to Kwame Bempah, is among guidelines that was set by the government through the Ministry of Finance to provide incentives for donors including private individuals.

“So among the guidelines states that when you donate to the Trust Fund and during your tax returns you are able to indicate the amount that you contributed or donated, through that certain percentage of your tax will be waived and you’ll be given tax holidays.

“The Ghana Revenue Authority (GRA) is the implementation body…It depends on the tax that a particular company will have to pay and how much the company has donated into the Fund,” he explained.

About the Covid-19 National Trust Fund

The Covid-19 National Trust Fund was established by President Nana Addo Dankwa Akufo-Addo to receive contributions and donations from the public to assist in the welfare of the needy and the vulnerable during the COVID-19 period.

The President donated his April, May, and June salaries as seed money for the Fund.

Vice-President Dr. Mahamudu Bawumia also donated his three months’ salary to the Trust Fund.

All Ministers of State and other top appointees at the presidency voluntarily decided to donate 50 percent of their salary for the next three months to the COVID-19 Fund.

Parliament has also contributed GH¢200,000 with the Speaker of the House, Prof. Aaron Mike Ocquaye donating half of his three months’ salary to the Fund.

Other groups and associations have also made different donations in cash and kind to various hospitals and health services in the country.

Calls for accountability

Meanwhile, the Ghana Anti-Corruption Coalition (GACC) has asked government and trustees in charge of the COVID-19 Fund to ensure transparency and accountability in the utilization of the fund.

Former President John Dramani Mahama has also called for an audit of the Fund.

He has asked administrators of the Fund to keep receipts of expenditure to enhance accountability in the management of the Fund.

Source: Daily Mail GH with additional files from CNR