Spare parts dealers hail government for scrapping import duties

Some spare parts dealers at Abossey Okai in Accra have hailed the decision by government to scrap taxes on imported spare parts into the country.

According to them, the move will help reduce the cost of the materials and also ensure that the cost of importing them is not overburdening as witnessed in time past.

Mynewsgh.com reporters interacted with a section of them about their impression over the abolition of the tax and some of them said “It is great news to us and I can assure you that we will also reduce the prices of our parts if government is not lying to us.

We anticipated this because we were actually suffering and could not make profits as were burdened by taxes”

The NPP in its maiden budget for 2017 has scrapped a number of taxes including 1% Special Import levy, reduced special petroleum levy from 17.5%-15%, abolished tax on imports on spare parts, scrapped 17.5% tax on financial services, removed 17.5% domestic airline tax and removed 5% Real Estate Sales Tax.