There has been amendments to the VAT scheme some of which include:
a) Crude oil and hyrocarbon products: Chemicals imported
by the Tema Oil Refinery for use in the processing
of crude oil into petrol, etc. are now exempted from
VAT
b) Pharmaceuticals: Raw materials imported by local
manufacturers for the manufacture of exempt
pharmaceutical products are now exempted from import
VAT. To qualify for the exemption there should a
certificate by the Registrar of the Pharmacy Board.
c) Books - Ghana Publisher Association: The main raw
materials for the production of books are now
exempted from import VAT. The materials involved are:
I) Bond/Newsprint, ii) Book cover papers, iiii)
Lithofilm and iv) Lithoplates. There should be
certification by the Ghana Publishers Association.
d) Vehicles: The following rates apply
Vehicles Import VAT Special
Duty Tax
1. Ambulances Free Exempt Nil
2 Motor cars including
estate cars:
a) of a cylinder
capacity not
exceeding 1900cc 10% Exempt Nil
b) of a cylinder
capacity exceeding
1900cc but not
exceeding 2500 cc 10% 17.5% Nil
c) of a cylinder
capacity exceeding
2500cc 10% 17.5% 17.5%
3. Motor vehicles designed
to carry ten (10)
or more persons (eg.
buses and coaches) Free Exempt Nil
4. Motor vehicles for the
transportation of goods
such as trucks, tippers
and vans Free Exempt Nil
5. Vehicles specially
designed for travelling
on snow; gold cars
and similar vehicles 25% 17.5% 17.5%
6. Agricultural Tractors
of HS code 87.01 Free Exempt Nil
Ghana Review will like readers to note that the above
does not include penalties which are charged on over-aged
vehicles.
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