VAT on condoms and 63 other commodities removed
This directive comes after the Economic Management Team headed by the Vice President Dr Mahamudu Bawumia held a meeting on Wednesday, March 21, 2018.
Prior to the meeting, the Economic Management Team had held extensive consultations with various stakeholders.
The Import VAT on the 64 commodity groups came into effect March 1, 2018, leading to an unintended hike in import charges.
In a statement signed by the Information Minister, Mustapha Hamid said: “This suspension is pending an assessment of Harmonized code (HS Codes) for customs which were reviewed effective same date.”
The 64 commodity groups for which Import VAT is immediately suspended include items such as Mobile Phones, Electrical Transformers, Tractors for Agricultural Purposes, Solar Cells, Musical Instruments, Outboard Motors, Concrete Mortar Mixers and Day-Old Chicks.
The statement also announced that “the proposed ‘fumigation levy’ for shippers be indefinitely suspended.”
“Further details of affected products will be outlined by the Ghana Revenue Authority (GRA) in due course. Government is grateful to all stakeholders for forthrightly participating in the engagement sessions and looks forward to a substantive resolution of the challenges faced by importers and shippers,” Mr Hamid concluded.
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