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General News of Saturday, 11 November 2017

Source: Starrfmonline.com

2018 Budget will address concerns – Akufo-Addo

The upcoming 2018 fiscal year budget will address many more of your concerns as traders and as businessman, President Akufo Addo has assured Abossey Okai Spare parts dealers.

Speaking at a gathering of the traders at Abossey Okai as part of the second day of his three day working tour of the Greater Accra region, Mr. Akufo Addo said the 2018 budget will go beyond the reliefs that were given to traders in the 2017 budget dubbed “Asempa Budget”.

The 2018 fiscal year budget will be read in Parliament by the Finance Minister, Ken Ofori Atta, on the 15th of November 2017.

In the first budget of the Akufo-Addo administration in 2017, several taxes were abolished.

They included; the one per cent special import levy, 17.5 VAT on domestic airline tickets, 17.5 VAT on financial services, 17.5% VAT on selected imported medicines, 5% VAT on real estates, excise duty on petroleum, duties on importation of spare parts and levies imposed on Kayayei (head porters) by local authorities.

The Chairman of the Abossey Okai Spare Parts Dealers Association Joseph Paddy called on the government to take a look at foreign retailers in local businesses.

He said the activities of these traders are in conflict with GIPC law. He also appealed to the President to work on the bad road network in Abossey Okai.