New import duties soon to be reduced – Akufo-Addo

News from Sunday, March 31st, 2019

Source: Graphic.com.gh

2019-03-31

The President of the Republic, Nana Addo Dankwa Akufo-Addo, said that reforms to Ghana's import tariff regime, which will remove high tariffs in Ghana's ports, are underway and will soon be implemented. implemented.

Several people having asked the state to intervene and review the high taxes and duties applicable to imported items, President Akufo-Addo badured that the government was already addressing the issue.

"The studies we conducted showed us that our ports were not competitive and that the import regime in our country was far too high. We are taking care of that and, very soon, the measures that the government will put in place will be known to all of you. I do not speak next year, nor in six months, I speak very very soon, "he said.

President Akufo-Addo made this known on Saturday, March 30, 2019 when he addressed a Ghanaian public badembly residing in Worcester (Mbadachusetts) in the United States of America, as part of his visit to this country, President Akufo-Addo.

Indeed, some trade unions, including the Union of Traders' Associations of Ghana (GUTA), have asked the state to intervene and review the high taxes and duties applicable to imported products.

Paperless reduces shipping costs

Already, the introduction of the paperless port system has, according to the Minister of Finance, the Hon. Ken Ofori-Atta, has reduced the cost of transactions in the ports.

Before Parliament to answer a question put by the hon. Member for Adaklu 's constituency, the Hon. Kwame Agbodza, on the question of whether the introduction of the paperless port increased the cost of commercial transactions in ports, the minister said that this initiative had rather reduced the cost of commercial transactions.

"The results (of the paperless port system) showed that the cost components of business in the country's ports were reduced from 7 to 3 cost components. This subsequently reduced the total costs from 1,280 GHY to 320,000 GH, "said Ken Ofori-Atta.

"This means that the paperless system has reduced the cost of transactions in ports by € 960,000, which represents a savings of 75%. As a result, importers are now saving 75% through the implementation of the paperless system. "