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Business News Thu, 16 Nov 2017

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Importers unhappy with import levy retention - Report

Some importers and forwarders in Tema have expressed disappointment at the inability of the government to remove the special import levy which is the two per cent tax on finished products.

They equally expressed displeasure at the government’s inability to put measures in place to help stabilize the exchange rate.

Presenting the 2018 Budget and Economic Policy on Wednesday, the Minister of Finance, Ken Ofori-Atta, said the National Fiscal Stabilization Levy and the Special Import Levy will be extended to the end of 2019.

The Special Import Levy, which was introduced in 2017 by the previous government, received huge backlash from importers who described it as a nuisance tax.

Speaking to Obonu News on the presentation of the Budget which was dubbed "Putting Ghana back to work", the importers and forwarders said the duty is index on the exchange rate which needs serious attention to help boost the economy.

Source: gbconline.com

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