The 1st Vice Chairman Ghana Union of Traders Association (GUTA), Mr Clement Boateng has stated that GUTA is totally disappointed in the 2024 Annual Budget Statement and Economic Policy of Government of Ghana.
According to him, although some of the tax waivers were a step in the right direction, they were disappointed in the budget because it did not address even one of their challenges.
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While presenting the 2024 Annual Budget Statement and Economic Policy of Government of Ghana for the 2024 Financial Year, on Wednesday, 15th November, 2023, the Finance Minister, Ken Ofori-Atta, made it known that the government has decided to waive off taxes on import duties on electric vehicles and others.
“The following reliefs have been prioritised for implementation. To extend the zero rate of vat on locally manufactured African prints for two more years, to waive import duties on the import of electric vehicles for public transportation for a period of 8 years, to waive import duties on semi knockdown and completely knockdown vehicles imported, registered EV assembly companies in Ghana for a period of 8 years, to extend zero rate of vat on locally assembled vehicles for two more years,” he said.
Speaking on Atinka TV‘s morning show, Ghana Nie, Mr Clement Boateng said, “If it comes to the expectations of GUTA which has to do with the high cost of doing business in the country, I will say we were totally disappointed,” he said.
He continued,”We were totally disappointed because not even one of our challenges was addressed.”
Mr Clement Boateng again complained that, “We raised the issue of 1 percent covid levy, did he speak about it? He did not. We raised 2 percent special import levy, he did not speak about it, we raised the unfairness in the vat regime, he did not speak about it, we raised the numerous levies and taxes which add up to 22. When we are clearing our goods at ports, we pay all and all these contribute to the high price of goods and services in this country. So, we thought since he called us about few weeks ago and we gave them our inputs and they gave us assurance that they were going to do something about it, our expectations were that at least, even if they cannot do all for us, they should have considered one or two to reduce the high cost of doing business here so that it will help the ordinary Ghanaian.”
He added that if the Government did not even consider one of their challenges, then it did not go well with them.
Mr Clement Boateng said he was expecting the Government to rather invest in the technical know-how instead to enable mechanics, engineers to know how to deal with vehicles when they break down.
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