How a hotel was designated as 1D1F and granted $4 million tax exemption
How a hotel was designated as 1D1F and granted $4 million tax exemption By: Victoria Enyonam Adonu Date: August 21, 2023 SHARE: The Le Meridien hotel project, which 4-mac Limited received US $ 4 m tax waiver in December 2022. In December 2022, Parliament granted a US$4 million tax waiver under the One District (1D1F), One Factory programme to 4-Mac Limited, a company that is building a hotel at Airport Residential in Accra. The waiver is to cover import bills and other import-related taxes of the company. The company also received a five-year tax holiday. The parliamentary approval followed a request from the Ministry of Finance dated July 25, 2022. The ministry initially sought approval for almost US$6.4 million in import tax relief for the construction of the four-star, Le Meridien hotel. The 160-room hotel is expected to open its doors to customers in 2025. An artistic impression of the Le Meridien Hotel project at the Airpot Residential area. The M