Business News of Thursday, 22 March 2018

Source: mynewsgh.com

Government scraps VAT on 64 commodities

Ken Ofori-Atta, Finance Minister Ken Ofori-Atta, Finance Minister

The government has announced that it has since March 1, 2018 scrapped VAT on 64 commodities after consultation with the various stakeholders.

A statement issued on Wednesday March 21, 2018, signed by Information Minister, Dr Mustapha Abdul-Hamid and sighted by MyNewsGh.com, directed that the Ghana Revenue Authority (GRA) suspends with immediate effect the charging of Import VAT on the 64 commodity groups including; Mobile Phones, Electoral Transformers, Tractors for Agricultural Purposes, Solar Cells, Musical Instruments, Outboard Motors, Concrete Mortar Mixers and Day-Old Chicks among others.

The statement added that the decision was arrived at after extensive consultation between Government and various stakeholders.

Find the full text of release below;