Controversy in Parliament over waiver of stamp duty
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Members of Parliament (MPs) from both sides of the house on Tuesday argued over the exact amount that Parliament was supposed to approve as a waiver of the stamp duty.
The Minister of Government Business in Parliament and Majority Leader, Dr Benjamin Kunbuor, requested the house to approve the waiver of stamp duty amounting to $150 million on an offshore syndicated receivables-backed trade finance facility of US$1.5 billion for cocoa purchases by the Cocobod.
When he caught the eye of Mr Ebo Barton-Odro,the chair, MP for First Deputy Speaker, who was in the Assin Central, Mr Kennedy Ohene-Agyapong, told the house that stamp duties amounted to one per cent of principal amounts.
He said by that calculation the one per cent on the US$1.5 billion would not amount to US$150 million as presented to the House.
Mr Ohene-Agyapong explained that the amount was supposed to be $15 million and not US$150 million and called for the withdrawal of the paper for a corrected version to be relaid.
His assertion was supported by some members from the Minority side.
However, Dr Kunbuor and the Chairman of the Finance Committee of Parliament, Mr James Klutse Avedzi, argued that since the paper had already been laid and referred to the Finance Committee for consideration and report, the committee should be allowed to deal with the matter
Even though the Minority Leader, Mr Osei Kyei-Mensah-Bonsu, insisted that the paper should be withdrawn and a corrected version relaid, Dr Kunbuor raised an objection and supported the call by Mr Avedzi that the Finance Committee should be allowed to scrutinise the paper once it had already been laid and referred to it.
After both sides had raised arguments and counter-arguments, Mr Barton-Odro ruled that the Finance Committee should correct any anomaly during its deliberations on the paper.
Story: Emmanuel Adu-Gyamerah