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Home Business

AGI pushes for reductions on imports of uncooked supplies

by The Ghanaian Post
May 14, 2022
in Business
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The Affiliation of Ghana Industries (AGI) is pushing for a particular low cost on imports of uncooked supplies to make producers extra aggressive within the nation.

In accordance with the affiliation, the transfer is aimed toward serving to authorities construct a powerful manufacturing sector and help producers thrive below the African Continental Free Commerce Space.

The Chief Govt Officer of the Affiliation of Ghana Industries, Seth Twum-Akwaboah, who made the attraction throughout a sensitisation workshop organised by the AGI and the Ghana Income Authority (GRA), mentioned essential consideration must be given to the manufacturing sector to develop to assist the federal government’s industrial transformation agenda initiatives comparable to 1D1F, Planting for Meals and Jobs, and different export improvement programmes.

“For many international locations that basically put the manufacturing agenda first, once you’re importing uncooked supplies to additional course of you don’t pay taxes on the uncooked supplies and the machines and all that as a result of they aren’t on the market. We name that pre-production tax. The primary tax that you would need to pay should be publish manufacturing. If I import uncooked supplies and I course of and promote and become profitable, the more cash I make the extra taxes I pay.

So it isn’t a query of giving me exemption. It’s only a matter of shifting the tax to the publish manufacturing. And that’s what some international locations undertake to assist their native producers. In Ghana, we import uncooked supplies and we’re paying taxes. This isn’t constant in any critical developmental agenda for industrialisation,” he mentioned.

The one-day workshop is to debate and educate members on among the insurance policies applied by GRA and up to date initiatives that affect on enterprise.

These embrace, the low cost values on items and companies, the GRA taxpayers’ portal, the 4 per cent flat price and digital transaction levy (E-levy).

Current on the workshop are the officers (Home and Customs divisions) of GRA together with the Commissioner of Customs, Col Kwadwo Damoah (retd) and members of AGI led by MrTwum-Akwaboah. – www.businessnews.com



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