Nana Addo must address 3% VAT Flat rate today-Importers


As the Nana Addo prepares to address journalists today, Importers and Exporters want the President to address all concerns on the 3% VAT Flat rate

The meeting which is the maiden since President Akufo Addo assumed office will be held later today.

The businesses who have commended the NPP government’s tax cut policies so far however say they are dissatisfied with the way the 3% VAT flat rate has been handled.

The implementation of the tax has since resulted in price hikes of some goods.

The Executive Secretary of the Importers and Exporters Association of Ghana, Sampson Asaaki Awingobit believes Government could regain their full confidence if the members of the association are exempted.

“When it comes to the 3% VAT flat rate that was implemented about seventeen days ago, I can confidently tell you that it has come to crash all the good things that the government has promised in terms of tax reduction because as I speak to you now consumers are paying higher under this government,” he said.

Mr. Awingobit explained that the price hikes occurred due to the number of goods that are  imported into the country.

“The situation will affect most Ghanaians due to the number of goods imported. I will add that it will not  only affect goods that are imported but it will also affect import distributors who are also doing distribution of manufactured products in this country,” he warned.

Mr. Awingobit was of the view that government has reversed all the gains made by the implementation of the 3% Vat Flat rate.

“So I will tell you that, they began on a good note but in the last seventeen days with what we saw in our markets it has made Ghanaians confused as to whether we are in a new government that promised tax relief and then better services to the Ghanaian community, or are we still in the old government. We are confused.”

By: Pius Amihere Eduku/citibusinessnews.com/Ghana



Published on 18 July 2017 | 9:51 am at Source