The government of Ghana has suspended the charging of import VAT on some 64 commodity groups which results in an unintended hike in import duties effective March 21, 2018.
Prime Business understands that the decision to suspend import VAT was arrived at after extensive consultation between the government of Ghana and various stakeholders.
A statement signed by Information Minister, Mustapha Hamid and copied to Prime Business confirmed the suspension.
“The Ghana Revenue Authority (GRA) suspends with immediate effect, the charging of import VAT on the 64 commodity groups which started on March 1, 2018, leading to an unintended hike in import charges,†it said.
It also indicated that it is pending an assessment of Harmonised code for customs which were reviewed on March 1st, 2018.
The 64 commodity groups for which Import VAT has been suspended include items such as; mobile phones, day old chicks, outboard motors, electrical transformers, Concrete, Musical Instruments, Tractors for Agricultural Purposes amongst others.
The statement from the Communication Ministry added that other product affected will soon be made known by the Ghana Revenue Authority.
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