The government, as part of its fiscal measures, has decided to waive import duties on Electric Vehicles (EVs) designated for public transportation for 8 years, according to Finance Minister Ken Ofori-Atta during the presentation of the 2024 Budget and Economic Statement to Parliament.<\/p>
In addition to this, Ofori-Atta disclosed that import duties would also be exempted for semi-knocked down and completely knocked down Electric vehicles brought into the country by registered EV assembly companies for the same 8-year period.<\/p>
Furthermore, in a move to promote menstrual hygiene and affordability, the Finance Minister has declared that all locally produced sanitary pads would now be zero-rated.<\/p>
\u201cMr. Speaker, further to the above, the following reliefs have been prioritised for implementation:<\/p>
i. Extend zero rate of VAT on locally manufactured African prints for two (2) more years;<\/p>
ii. Waive import duties on the import of electric vehicles for public transportation for 8 years;<\/p>
iii. Waive import duties on semi-knocked down and completely knocked down Electric vehicles imported by registered EV assembly companies in Ghana for 8 years;<\/p>
iv. Extend zero rate of VAT on locally assembled vehicles for 2 more years;<\/p>
v. Zero rate VAT on locally produced sanitary pads;<\/p>
vi. Grant import duty waivers for raw materials for the local manufacture of sanitary pads;<\/p>
vii. Grant exemptions on the importation of agricultural machinery equipment and inputs and medical consumables, raw materials for the pharmaceutical industry;<\/p>
viii. A VAT flat rate of 5 percent to replace the 15 percent standard VAT rate on all commercial properties will be introduced to simplify administration.<\/p>
75. To address the negative externalities of plastic waste and pollution, The government will review and expand the Environmental Excise Duty to cover plastic packaging and industrial and vehicle emissions,\u201d Mr Ofori-Atta <\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/p>\n","protected":false},"excerpt":{"rendered":"
The government, as part of its fiscal measures, has decided to waive import duties on Electric Vehicles (EVs) designated for public transportation for 8 years, according to Finance Minister Ken Ofori-Atta during the presentation of the 2024 Budget and Economic Statement to Parliament. In addition to this, Ofori-Atta disclosed that import duties would also be […]<\/p>\n","protected":false},"author":8,"featured_media":40037,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_post_source_name":"","_post_source_url":"","footnotes":""},"categories":[43,1],"tags":[4899,5249,5520,6399,12354,192,2264,5563,12900,12138,483,8374,1153,1198,11081,8536,10722,10847,10588,9277,6206,10220,8632],"class_list":["post-40036","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-local-news","category-news","tag-african","tag-budget","tag-cars","tag-ev","tag-finance","tag-ghana","tag-government","tag-grant","tag-hygiene","tag-import","tag-ken-ofori-atta","tag-ofori-atta-2","tag-ofori-atta","tag-parliament","tag-pharmaceutical","tag-plastic","tag-removed","tag-sanitary-pad","tag-sanitary-pads","tag-speaker","tag-taxes","tag-transportation","tag-vat"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts\/40036","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/comments?post=40036"}],"version-history":[{"count":1,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts\/40036\/revisions"}],"predecessor-version":[{"id":40038,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts\/40036\/revisions\/40038"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/media\/40037"}],"wp:attachment":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/media?parent=40036"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/categories?post=40036"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/tags?post=40036"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}