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Ministry of Finance Gov't rescinds decision to scrap tax on mobile phone imports

The Ministry of Finance included the cancellation of  the import duties in the 2015 budget but the government did not enforce the removal of the taxes. According to the Ghana Revenue Authority the government did not give a final directive as to when the taxes should be removed.

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Information reaching Pulse Business reveals that the Ministry of Finance has rescinded its decision to scrap the 20% import taxes on the mobile phones and accessories.

The ministry of Finance included the cancellation of  the import duties in the 2015 budget but the government did not enforce the removal of the taxes. According to the Ghana Revenue Authority the government did not give a final directive as to when the taxes should be removed.

Officials of the Ministry of Finance say the decision to scrap the tax is to streamline the country's import tax regime in alignment with the ECOWAS Common Tarriffs.

The Parliament of the Economic Community of West African States approved the implementation of  a common import and export regime for the sub- region in order to improve intra- West African trade.

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This means that government will have to align all its import duties to conform with the West African average, and the taxes on mobile phone accessories is one of them.

Currently, government charges a 20% import tax on mobile phones and accessories, whilst the Ecowas Common Tariff stipulates 10%. Government has therefore decided to reduce the tariff to 10%, but cannot totally scrap the taxes as originally planned.

Meanwhile, the Importers and Exporters Association of Ghana in collaboration with the Ghana Union of Traders Association are putting pressure on government to reduce a collection of important taxes in accordance with dictates of the ECOWAS Common Tariffs.

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