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Business News of Thursday, 22 March 2018

Source: adomonline.com

GUTA prasies government over VAT reduction

The Ghana Union of Traders Association (GUTA) has eulogized the Akufo-Addo led government for addressing their concerns.

This was after government scrapped VAT on 64 commodities after consultation with the various stakeholders.

A statement signed by Minister of Information, Mustapha Hamid said government has also directed that the Ghana Revenue Authority (GRA) suspends with immediate effect the charging of Import VAT on mobile phones, Electoral Transformers, Tractors for Agricultural Purposes, Solar Cells, Musical Instruments, Outboard Motors, Concrete Mortar Mixers and Day-Old Chicks among others.

Speaking on Adom FM’s morning show Dwaso Nsem Thursday, Deputy Secretary of GUTA, Nana Opoku expressed their profound appreciation to government.

He indicated that, government heeded to their call for tax reduction after extensive consultation with them and other stakeholders.

Nana Opoku said their members can now heave a sigh of relief since businesses of majority was on the verge of collapse due to the exorbitant port charges.

“Government is ready to refund all monies wrongfully paid at the ports to traders. We are very excited about this listening government” he added.

Nana Opoku called on GUTA members to submit receipts of payments made at the ports to the Ministry of Finance for refund.