The decision by government to withdraw the 5.0% capital gain tax on profit made by investors during the 2021 Budget presentation, can be a game changer to activities on the stock market.

According to Managing Director of Stock Exchange, Ekow Afedzie, the new directive should be a relief to investors and also serve as a catalyst to entrepreneurs to invest more on the capital market.

“As I indicated earlier, this is a very welcoming news to us and we as managers of the stock market are very grateful to the government for such a bold decision”.

“I believe it will be a game changer for the growth of the market and many investors will be encouraged to come onto the market. This has been a practice in other countries and it has attracted many businesses as well”, he said.

Leader of government business in parliament, Osei Kyei-Mensah Bonsu announced during the 2021 budget presentation that the government has taken a decision to permanently exempt listed securities on capital gain tax payments in the capital market.

This development has been welcome by market watchers and analysts.