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    PURC justifies 18.36% increase in electricity tariff

    Strengthen Financial Stability Fund to support struggling banks – Dr. Atuahene

    BoG Act needs clarity, improvement for easy implementation – Governor

    Utility tariff increase will cripple businesses – AGI

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    PURC justifies 18.36% increase in electricity tariff

    Strengthen Financial Stability Fund to support struggling banks – Dr. Atuahene

    BoG Act needs clarity, improvement for easy implementation – Governor

    Don’t shortchange customers; use standardized measurements – Traders told

    We’re ready to provide liquidity support to banks – BoG reiterates

    Utility tariff increase will cripple businesses – AGI

    GRA arrests 3 shop owners for not issuing VAT invoices

    GNPC-PetroSA deal: Freddie Blay threatens to sue CSOs

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    PURC justifies 18.36% increase in electricity tariff

    Strengthen Financial Stability Fund to support struggling banks – Dr. Atuahene

    BoG Act needs clarity, improvement for easy implementation – Governor

    Utility tariff increase will cripple businesses – AGI

    GRA arrests 3 shop owners for not issuing VAT invoices

    GNPC-PetroSA deal: Freddie Blay threatens to sue CSOs

    Chinese involvement in Ghana’s economy not problematic – Nana Addo

    Ghana Association of Banks welcomes provisions for recapitalization

    BoG commissions Financial Industry Command Security Operations Centre

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    Ghana gets $300 million from US to build first-of-its-kind data center

    Telcoms industry players urged to partner government to promote clean energy transition

    Dominion University To Partner With USA Organisations To Set Up Centre Of Excellence For Artificial Intelligence

    Cyber Security Authority commences licensing and accreditation regime

    Twitter is reportedly planning to charge businesses $1,000 per month to keep gold verified checks

    Ghana withdraws $672m back-tax demand from MTN Group

    MTN to fight $773m tax bill from government

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    Ghana and South Africa urged to leverage on AfCFTA to boost bi – lateral relations

    Silicon Valley Bank crisis: What led to stock crash, what lies ahead?

    Medical devices market projected to expand by $ 7.1 billion by close of year

    African Union adopts Africa Prosperity Dialogues AfCFTA action plan

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Gov’t to regulate importation of ‘second-hand’ and ‘accident’ vehicles

bycitibusinessnews
February 7, 2020
in Business
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Parliament is set to put in place a regulatory framework for the importation of ‘second-hand’ and salvaged vehicles.

This is captured in the Customs Amendment Bill which is on the agenda of the house for consideration.

Speaking at an Encounter with the media, the Majority Leader, Osei Kyei Mensah Bonsu, indicated that such a regime is necessary for the emerging automobile industry in the country where many global giants are setting up assembly plants to produce for domestic use.

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Automobile giants like VW, Toyota, Renault and Nissan, have all expressed interest to set up assembly plants in Ghana, and the Majority Leader argued that the government in creating the enabling environment for these companies, will limit the ‘unfettered’ access to second-hand cars and salvaged vehicles.

“For a start, maybe we can ban the importation of second-hand cars which are more than 10 years-old and then also prevent the import of salvaged vehicles. These are vehicles that have been involved in accidents, floods and people will clean them up and bring them here. They are the reasons why we have so many accidents on our roads. So, it is intended to amend the customs bill to suit the circumstances.”

“We are not going to draw down the curtains overnight. We would suggest to ourselves that once the vehicle assembly plants start rolling out, we will give ourselves up to a period say six months and the law can be activated,” he noted.

Data available from the Ghana Revenue Authority (GRA), Customs Division, indicates that between 2005 and 2016, more than 1 million vehicles were imported into the country; representing an average of 100,000 cars per year.

Out of the total fleet of vehicles imported with the period under review, 80 percent are said to be secondhand vehicles.

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Strengthen Financial Stability Fund to support struggling banks – Dr. Atuahene

BoG Act needs clarity, improvement for easy implementation – Governor

Utility tariff increase will cripple businesses – AGI

GRA arrests 3 shop owners for not issuing VAT invoices

GNPC-PetroSA deal: Freddie Blay threatens to sue CSOs

Chinese involvement in Ghana’s economy not problematic – Nana Addo

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