Monday, November 11, 2024

Ghana scraps VAT on some 64 Commodities

Must read

Nigerian High Commission apartments in Ghana demolished

Some new apartments built at the residence of the Nigerian High Commissioner in Ghana’s capital city Accra, have been demolished by bulldozers. The apartments have been constructed to...

Covid-19: Ghana records significant recovery numbers

Ghanaian health officials on Saturday said over 10,000 persons infected with the coronavirus have now recovered. The significant number of recoveries means the country now...

DR Congo: President’s ex-chief of staff jailed 20 years for corruption

The ex-chief of staff of the president of the Democratic Republic of Congo has been jailed 20 years by a high court. Vital Kamerhe was...

Covid-19: Zimbabwe’s health minister arrested, charged for graft

Zimbabwe's Health Minister Obadiah Moyo has been arrested over corruption allegations related to procurement of medical equipment worth $60 million. Moyo is accused of illegally...
Fred Dzakpata
Fred Dzakpata is a Ghanaian journalist who specializes in business reporting in Africa.

There is some major relief for businesses in Ghana following the decision by the government to scrap VAT on the import of some 64 commodities.

The Economic Management team of Ghana has also directed its revenue authority to immediately suspend the controversial exercise to disinfect export and import at the country’s ports.

The decision was arrived at after a crucial meeting between the government and stakeholders in the Capital Accra.

Some Business Associations such as the Ghana Union of Traders Association have complained about the recent hikes in levies at the port warning the fumigation exercise levy will increase cost of doing business.

“This suspension is pending an assessment of Harmonized code (HS Codes) for customs which were reviewed effective same date,” a statement signed by Ghana’s Information Minister Mustapha Hamid said.

The 64 commodity groups for which Import VAT is immediately suspended include items such as Mobile Phones, Electrical Transformers, Tractors for Agricultural Purposes, Solar Cells, Musical Instruments, Outboard Motors, Concrete Mortar Mixers and Day-Old Chicks.

“Further details of affected products will be outlined by the Ghana Revenue Authority (GRA) in due course. Government is grateful to all stakeholders for forthrightly participating in the engagement sessions and looks forward to a substantive resolution of the challenges faced by importers and shippers,” the statement concluded..

The Ghana Import and Exporters Association has described the latest action by government as a good one.

 

Source: Africafeeds.com

- Advertisement -

More articles

- Advertisement -

Latest article

Nigerian High Commission apartments in Ghana demolished

Some new apartments built at the residence of the Nigerian High Commissioner in Ghana’s capital city Accra, have been demolished by bulldozers. The apartments have been constructed to...

Covid-19: Ghana records significant recovery numbers

Ghanaian health officials on Saturday said over 10,000 persons infected with the coronavirus have now recovered. The significant number of recoveries means the country now...

DR Congo: President’s ex-chief of staff jailed 20 years for corruption

The ex-chief of staff of the president of the Democratic Republic of Congo has been jailed 20 years by a high court. Vital Kamerhe was...

Covid-19: Zimbabwe’s health minister arrested, charged for graft

Zimbabwe's Health Minister Obadiah Moyo has been arrested over corruption allegations related to procurement of medical equipment worth $60 million. Moyo is accused of illegally...

Ghana’s new law that jails citizens not wearing facemask 10 years

Ghanaians who fail to wear the face masks in compliance with a presidential directive risk going to jail for ten years. They also face a...