CHAMBERS MARKET

GOVERNMENT SUSPENDS IMPORT VAT ON SELECTED COMMODITIES

The government has asked the Ghana Revenue Authority (GRA) to suspend with immediate effect, the charging of Import VAT on selected categories of commodities.
The import VAT was slapped on 64 commodity groups from March 1, 2018, raising concerns among various importers groups following sudden price hikes.

Government in a statement issued by Information Minister, Mustapha Abdul-Hamid on Wednesday, said the hike in import charges were “unintended” and that the suspension of the Import VAT, a temporary measure, follows extensive consultation between Government and various stakeholders.

“This suspension is pending an assessment of Harmonized code (HS Codes) for customs which were reviewed effective same date,” the statement said.

Affected commodities included;

Mobile phones
Electrical transformers
Tractors for agricultural purposes
Solar cells
Musical instruments
Outboard motors
Concrete
Mortar mixers and
Day-Old Chicks
Also suspended but indefinitely, is a proposed 'fumigation levy' for shippers.

“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.”

                                                                                                                       source:peacefmonline.com

                                                                                                                       date:22/3/2018


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