Vice-President Dr Mahamudu Bawumia has announced that government with effective from tomorrow Thursday, April 4, 2019 will reduce all import duties by 50%.
The Vice-President also disclosed that import duty on cars have also been cut by 30%.
He explained that the move is to let Ghanaians appreciate the fact that the Akufo-Addo administration is a listening government that always have the interest of Ghanaians at heart.
Whiles admitting that import charges are “higher in Ghana than any Africa country”, a phenomenon he said was not appropriate, the Vice-President, who is the head of the Economic Management Team was emphatic that “it should be a flat rate across.”
“Why should the cost of scanning a container, vehicle examination fees, and network charge is a percentage of the value of the goods in the container. Why should the cost of processing a container, covering import be a percentage of the cost of the value of the goods?” he questioned.
Dr Bawumia said these reforms are part of measures to deal with smuggling at the various entry points into the country as well as assisting businesses in Ghana.
“To reduce the incidence of smuggling and enhance revenue, the benchmark delivery value of imports will be reduced by 50 per cent,” Dr Bawumia said at a Town Hall meeting in Accra on Wednesday, 3 April 2019, to wild cheers from the gathering.
Source: King Edward Ambrose Washman Addo/Peacefmonline.com/ Twitter: @Washman5/ Instagram: Ambrose_wash
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It's one thing to announce huge chop money for your wife, it's another to really do it. Let's wait and see whether from tomorrow this is really true.
My bro Nana Yaw remember it take some time to implement such policies u just don’t wake up and decide a lot goes into it planning, research,consultations and a whole lot just congratulate the government the only thing is we just have to see it happening and reflecting in our lives.
THIS IS WHAT WE CALL ECONOMICS ACCORDING TO PLAN, NOT THE VOODOO ECONOMICS OF THE NDC.THIS IS A GOOD START BUT MORE NEEDS TO BE DONE TO BRING GHANA AT PAR WITH OUR WEST AFRICAN NEIGHBOURS, WHOSE DUTIES ARE 300% LESS THAN GHANA'S.
Thats good news, but it will be better if importers ensure this reflects in prices. Many, especially those who have large stocks at their warehouses, will attempt at selling old stocks at existing prices. We all should reduce prices to ease the hardships on Ghanaian. Spare parts and car dealers lets us benefit from this initiative . On improved access to government services, I can testify that I renew my license at DVLA SCC this week in less than 10 minutes. Kudos to all.
that's great news. let's clap for npp government
So you could reduce duties by this much???? So why did we have to scream till heaven"s gate to get this response??!! WICKEDNESS!
WHAOW! 5O PERCENT NA GARGANTUA !
This is great news considering all the complaints from the Abossey Okai and importers at large. This will eventually translate into more business and jobs for Ghanaian. This will eventually reduce cost of vehicles and I can imagine the rippling blessings. God bless the economic team. Please research and bring more of such policies to make Ghana a beautiful place as promised.
THE NPP GOVERNMENT IS TRULY A LISTENNING GOVERNMENT. NANA,BAWUMIAH YOU HAVE BY THIS DEED SECURED YOUR SECOND TERM KOOLY. WHAT WILL THE NDC SAY NOW ?????
That was a very great move and commendable!