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    Chamber of IPPs disappointed over ECG’s tariff increase request

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    A petrol station worker fuels a car along Kimathi street on July 14 2019,after the Energy and Petroleum Regulatory Authority (EPRA) announced new retail pump prices of petroleum products effective from July 15 to August 14, 2019.price of super petrol increase by Sh0.29 per litre while diesel and kerosene decreased by Sh0.88 and SH2.31 per litre respectively.PHOTO|SILA KIPLAGAT

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    BoG Governor confident inflation has peaked; expects rate to start declining

    ActionAid Ghana Appoints John Nkaw as Country Director

    BoG’s inflation targeting framework can’t reduce rise in inflation – IEA

    Monetary Policy Rate must be increased to 19% to check inflation – IEA

    6th CEO’s Summit pushes for ease of doing business law to boost economic growth

    Policy rate likely to be increased to tame inflation – Databank CEO

    Banking Consultant bemoans continuous charging of unfair fees by banks

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    Victor Yaw Asante, FBNBank Ghana MD

    Banks will continue to innovate to meet customers’ expectations – FBNBank’s MD

    6th CEO’s Summit pushes for ease of doing business law to boost economic growth

    Policy rate likely to be increased to tame inflation – Databank CEO

    Banking Consultant bemoans continuous charging of unfair fees by banks

    Chamber of IPPs disappointed over ECG’s tariff increase request

    A comprehensive storage strategy will deal with post – harvest losses & inflation – CSIR

    A petrol station worker fuels a car along Kimathi street on July 14 2019,after the Energy and Petroleum Regulatory Authority (EPRA) announced new retail pump prices of petroleum products effective from July 15 to August 14, 2019.price of super petrol increase by Sh0.29 per litre while diesel and kerosene decreased by Sh0.88 and SH2.31 per litre respectively.PHOTO|SILA KIPLAGAT

    NPA allays fears of fuel scarcity in the country

    Fuel prices to rise marginally in second pricing window of May – IES

    Gov’t to put measures in place to reduce ‘imported inflation’ – Ofori-Atta

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    Government to invest heavily in internet safety – Ursula pledges

    Ho Node Hub rebrands as Node Eight

    Elon Musk strikes deal to buy Twitter for $44bn

    Block chain’s success will depend on supportive policy environment – Prof. Quaynor

    1.5% E-Levy rate will negatively impact GH¢6.9 billion target – Prof. Quartey

    Transactions to be affected by E-levy

    Bethniel Finance emerges winner in Innovation Challenge Program

    Taxing of non-resident e-commerce entities in Ghana could push prices up – Technology Consultant

    BoG cautions against fraudulent money-doubling scheme ‘BitCash Currency Exchange’

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    Standard of cars assembled in Ghana will not be compromised – GSA assures

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    Kyle Kelhofer appointed as IFC Senior Country Manager for Benin, Ghana, Liberia, Sierra Leone, and Togo

    Greater, more diverse participation in global trade is key to achieving Africa’s economic transformation – World Bank

    Seth Terkper advises against e-levy; urges government to run to IMF

    AfCFTA members conclude negotiations on rules of origin to enhance free trade

    Implement strategies to sustain increased consumer preference for digital payments – Bawumia

    Strict enforcement of AfCFTA regulatory framework will ensure smooth implementation of PAPSS – Bawumia 

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Association of Ghana Industries pushes for discounts on imports of raw materials

byNerteley Nettey
May 9, 2022
in Business, Local Economy, Top Stories
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The Association of Ghana Industries (AGI) is pushing for a special discount on imports of raw materials to make producers more competitive in the country.

According to the Association, the move is aimed at helping government build a strong manufacturing sector and aid manufacturers thrive under the African Continental Free Trade Area.

The Chief Executive Officer of the Association of Ghana Industries, Seth Twum-Akwaboah, who made the appeal during a sensitisation workshop organised by the AGI and the Ghana Revenue Authority (GRA), said the critical attention needs to be given to the manufacturing sector to grow to support the government’s industrial transformation agenda initiatives such as 1D1F, Planting for Food and Jobs, and other export development programmes.

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“For most countries that really put the manufacturing agenda first, when you’re importing raw materials to further process you don’t pay taxes on the raw materials and the machines and all that because they are not for sale. We call that pre-production tax. The main tax that you would have to pay must be post production. If I import raw materials and I process and sell and make money, the more money I make the more taxes I pay.

So It is not a question of giving me exemption. It is just a matter of shifting the tax to the post production. And that is what some countries adopt to support their local manufacturers. In Ghana, we import raw materials and we are paying taxes. This is not consistent in any serious developmental agenda for industrialization,” he said.

The workshop

The one-day workshop to discuss and educate members on some of the policies implemented by GRA and recent initiatives that impact on business.

These include, the discount values on goods and services, the GRA taxpayers’ portal, the four per cent flat rate and electronic transaction levy (E-levy).

Present at the workshop are the officials (Domestic and Customs divisions) of GRA including the Commissioner of Customs, Col Kwadwo Damoah (retd) and members of AGI led by Mr Twum-Akwaboah.

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