Import duties will be reduced by 50% from tomorrow -Vice President

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The Vice President of the Republic of Ghana, Dr Mahamudu Bawumia has disclosed that import duties will be reduced by 50%.

According to the Vice President, the reduction will take effect from tomorrow Thursday, 4th April 2019.

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Dr Mahamudu Bawumia

The Vice President made this declaration at the Maiden Economic Management Team Town hall meeting in Accra to address the country’s economic challenges.

He also disclosed that duties for vehicles will be reduced by 30%.

“To reduce the incidence of smuggling and enhance revenue, the benchmark delivery value of imports will be reduced by 50 per cent”, the Vice President disclosed.

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Well, the President of Ghana, Nana Addo Danquah Akufo Addo disclosed at a town hall meeting on March 30th 2019 at Worcester, Massachusetts in the United States of America that his outfit is putting measures in place to reduce duties at the ports.

This comes after importers complained bitterly about high import duties at the port and how it is collapsing businesses in the country.

The President promised to put measures in place to curb the situation. He stated; “We have realised from the studies we have done that our ports are not competitive, and the import regime in our country is far too high.

We are dealing with it, and, very soon, the measures that the government will roll out will become known to all of you. I am not talking next year, or in 6 months’ time, I am talking very, very soon”.

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Lizbeth Brownhttps://www.ghpage.com/
Lizbeth has a B.A in Communication Studies (Journalism option) from the Ghana Institute of Journalism. She loves to read, travel and has a strong passion for writing.

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