Tax cut policy cannot come into effect until government reaches agreement with ECOWAS authorities
Dealers in imported vehicle spare parts may have to wait a little longer to start enjoying the tax cuts announced in the budget.
The Minister of Finance, Ken Ofori Atta during the presentation of this year’s budget announced that government has abolished duties on used imported spare parts.
This caused a lot of excitement among dealers at Abossey Okai and other areas noted for selling spare parts.
However, it has emerged that the tax cut policy cannot come into effect until government reaches agreement with ECOWAS authorities.
This is because; Ghana is a signatory to the ECOWAS common tariff.
Deputy Minister designate for Information, Kwadwo Oppong-Nkrumah has been giving assurance that government is in negotiations with ECOWAS on the issue.
He hopes an agreement will be reached within the shortest possible time so that dealers can start enjoying the tax cuts.
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