In the presentation of the 2024 Budget Statement and Financial Statement in Parliament on Wednesday, the government mentioned some tax waivers.
The list below shows a summary of some of the tax waivers.
- Extend zero rate of VAT on locally manufactured african prints for two (2) more years
- Waive import duties on import of electric vehicles for public transportation for a period of 8 years
- Waive import duties on semi-knocked down and completely knocked down Electric vehicles imported by registered EV assembly companies in Ghana for a period of 8 years.
- Extend zero rate of VAT on locally assembled vehicles for 2 more years.
- Zero rate VAT on locally produced sanitary pads
- Grant import duty waivers for raw materials for the local manufacture of sanitary pads.
- Grant exemptions on the importation of agricultural machinery equipment and inputs and medical consumables, raw materials for the pharmaceutical industry.
- A VAT flat rate of 5 percent to replace the 15 percent standard VAT rate on all commercial properties will be introduced to simplify administration.
Source: Graphic.com.gh