We’ll reduce high import duties soon – Nana Addo

There will soon be reforms to reduce the high duties at Ghana’s ports, President Nana Akufo-Addo has indicated.

After calls from groups like Ghana Union of Traders Associations (GUTA) to review the high taxes and duties on imported items, President Akufo-Addo assured that the Government is already dealing with the matter.

“We have realised from the studies we have done that our ports are not competitive, and the import regime in our country is far too high. We are dealing with it, and, very soon, the measures that the government will roll out will become known to all of you.”

“I am not talking next year, or in six months’ time, I am talking very, very soon,” he said at a town hall meeting of Ghanaians resident in Worcester, Massachusetts, in the United States of America.

The Council of State was petitioned by Trade Union members, GUTA and other related parties to save them from the charges.

“Duty taxes for electrical items was 10%. The government has now increased to 20%. If you add the other taxes including VAT and Shippers plus the 20%, you are heading towards 50%. We are calling on the government to review it because we are having a huge deficit” an importer complained to Citi News.

What followed was a meeting between the council and the President over the matter where the grievances of importers were aired.

At the meeting with the President, the Chairman of the Council, Nana Otuo Serebuo II, said its meeting with the importers and exporters revealed a growing discontent over what they call exorbitant taxes at the country’s ports hence the need to bring it to the attention of the President.

The council had also held discussions with a number of stakeholders including the Minister of Finance, Ken Ofori-Atta; Trade and Industry Minister, Alan Kyerematen; the Commissioner of the Customs Division of the Ghana Revenue Authority (GRA), Isaac Crentsil and leadership of GUTA.

Some of the highest import duties can be found in Africa, where Gabon stands out with 16.93 percent.

The country with the highest weighted-average tariff worldwide is the Bahamas at 18.6 percent, according to the World Bank.

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By: citinewsroom.com