The Vice President, Dr. Mahamudu Bawumia, has promised to change the import regime in Ghana to avert the challenges businessmen go through at the ports.
According to the NPP flag bearer, the exchange rate fluctuations and other factors have negatively imparted Ghana’s import duty such that, importers are not aware of what to pay for the goods they bring into the country.
He says a predictable duty is the way to go, and has assured that his administration, if he becomes President, will do away with the current regime which has become a yoke for many businessmen.
Speaking to artisans at the Suame Magazine in Kumasi Tuesday, June 11, 2024, as part of his nationwide campaign tour, Dr. Bawumia stated that the undulating exchange rate will not impact what one pays as a duty at the port anymore, should he become President.
“I want to change our import duty regime in our port. With the status quo, when you import things, you don’t know the import duty to pay. Sometimes people pay double of what they were supposed to pay and are told the change in exchange and other factors have affected it. So I want us to have a predictable duty where a spare parts dealer who brings in a 40-footer container would know in cedis the amount you’ll pay,” he stated.
Reacting to the concerns raised by the artisans, Dr. Bawumia noted that his team has recognised and appreciate the problems with the tax system, the reason they are putting in measures to ensure the flat rate policy is implemented upon assumption of office.
“Ghana, our tax system is problematic just as the businessmen are complaining. So I want to introduce a new tax system. This new tax system is called the flat tax system which is like the tithe you pay in church. If it is 10%, it is 10% for everyone. So by 2025, we are going to begin the implementation of a new flat tax system for Ghana,” he explained.
The Vice President added that he wants to begin the flat rate tax system on a fresh note and would therefore grant an amnesty to all businesses in 2025 if elected.
“We will cut off every tax the GRA would have made you pay in 2025 so that we all start from ground zero. Tax amnesty in 2025,” he assured.
Bawumia promises to pay living allowances to chiefs, queen mothers
