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Akwaboah said the cuts were poorly understood
Vice President Mahamudu Bawumia announced the reduction on Wednesday at the government's plenary session.
Some people were moved to hear this because they thought import prices would go down, but that may not be the case.
Mr. Akwaboah said that there were very few cases where import duties would be reduced by 50% or 30%, as people think.
"In some cases, there may be no reduction at all and, in fact, most of the goods we import – if it is consistent and they declare the good value – that [the import duty] should not be touched at all. This will not necessarily result in a reduction of rights. This is not the same as a 50% reduction of rights.
"Only when uncertainty prevails – Customs is unclear that the values declared by an importer are consistent with what they think is value. In most cases, the value will remain the same, so we should not be too excited by the 50% reduction in import duties, "he added.
He went on to say that because of the CET's CET, it would be impossible for Ghana to make a general reduction in import duties.
The CET aims to ensure the transparency of customs procedures, reduce border delays and facilitate intraregional trade.
"The CET has thresholds, in fact, it has tariff bands that are applicable, Ghana can not change its own like that. So it has to be part of the tariff bands … if you are talking about a 50% reduction in tariffs, that means that the tariff band, for example 20%, will be 10% and ECOWAS does not. will not accept, "said Akwaboah.
For the AGI, a total reduction in import rates would have catastrophic effects on Ghanaian industries and this can not be tolerated.
-Myjoyonline
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