Citi Business News
No Result
View All Result
Saturday, February 27, 2021
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    GUTA demands emergency engagement with stakeholders over port charge increment

    We did not provide guarantees to IPPs – World Bank clarifies

    139,331 jobs created from 1D1F so far – Alan Kyerematen

    Ghana’s energy sector debt reduced to $1.5 billion – Amewu

    GCNET appeals against Labour Court ruling on redundancy pay

    KIA workers to withdraw services to demand removal of MD

    Support for indigenous companies needed to create more jobs – Opoku Prempeh

    Gas sub-sector becoming a fiscal burden to the country – IES study

    WAPCo’s role as a reliable partner in cleaner energy supply enhanced [ARTICLE]

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    We did not provide guarantees to IPPs – World Bank clarifies

    Kristianne Reindorf Osei, MD, Twelve Springs Investment Group.

    Meet Kristianne Reindorf Osei; the Young Ghanaian MD of a real estate company bagging global awards

    KIA workers to withdraw services to demand removal of MD

    Managing Director and CEO of UBA Ghana, Olalekan Balogun.

    UBA Ghana restates commitment to provide fast and secure remittance service with Africash

    Support for indigenous companies needed to create more jobs – Opoku Prempeh

    Victor Yaw Asante,
FBNBank Ghana MD/CEO

    SMEs need to master ICUMS, attract credit in order to benefit from enormous AfCFTA opportunities – FBNBank MD

    Gas sub-sector becoming a fiscal burden to the country – IES study

    WAPCo’s role as a reliable partner in cleaner energy supply enhanced [ARTICLE]

    Don’t charge new rates until 3rd quarter – Shipping lines urged

  • TECHNOLOGY

    Huawei Y7a; Enjoy poster level shots at the touch of a button!

    Looking for a Balanced School Life? Here is a Gadget Guide for You

    Stress-test your systems against possible cyber-attacks – BoG to banks

    Standout while staying healthy and fit with the sleek HUAWEI WATCH FIT

    Five reasons why you should get the HUAWEI Y7a

    Stallion Motors Ghana Ltd introduces ZxAuto Terralord pickup

    Enjoy longer reading pleasure with the new HUAWEI MatePad T

    Huawei announces innovative HUAWEI Y7a in Ghana

    Patience Akyianu joins Hubtel as non-Executive Director

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    World Bank appoints Senegal’s Makhtar Diop as Managing Director of IFC

    WTO Director General outlines plans to rejuvenate global trade

    WTO Appoints Nigeria’s Ngozi Okonjo-Iweala as First Female Leader

    Ghana-UK finalize negotiations on new interim Trade Partnership Agreement

    Go City Cycle Share & Tour promotes bike-sharing culture in Ghana

    Mastercard, UNICAF offer cardholders 75% scholarships for internationally recognized degrees

    Digital transactions for 2020 up by 103% – GhIPSS report

    Shift focus from upscaling to upgrading – Ofosu-Dorte urges businesses

    Ghana receives €9.7 million EU Grant to improve access to electricity

  • FEATURES
  • Videos
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    GUTA demands emergency engagement with stakeholders over port charge increment

    We did not provide guarantees to IPPs – World Bank clarifies

    139,331 jobs created from 1D1F so far – Alan Kyerematen

    Ghana’s energy sector debt reduced to $1.5 billion – Amewu

    GCNET appeals against Labour Court ruling on redundancy pay

    KIA workers to withdraw services to demand removal of MD

    Support for indigenous companies needed to create more jobs – Opoku Prempeh

    Gas sub-sector becoming a fiscal burden to the country – IES study

    WAPCo’s role as a reliable partner in cleaner energy supply enhanced [ARTICLE]

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    We did not provide guarantees to IPPs – World Bank clarifies

    Kristianne Reindorf Osei, MD, Twelve Springs Investment Group.

    Meet Kristianne Reindorf Osei; the Young Ghanaian MD of a real estate company bagging global awards

    KIA workers to withdraw services to demand removal of MD

    Managing Director and CEO of UBA Ghana, Olalekan Balogun.

    UBA Ghana restates commitment to provide fast and secure remittance service with Africash

    Support for indigenous companies needed to create more jobs – Opoku Prempeh

    Victor Yaw Asante,
FBNBank Ghana MD/CEO

    SMEs need to master ICUMS, attract credit in order to benefit from enormous AfCFTA opportunities – FBNBank MD

    Gas sub-sector becoming a fiscal burden to the country – IES study

    WAPCo’s role as a reliable partner in cleaner energy supply enhanced [ARTICLE]

    Don’t charge new rates until 3rd quarter – Shipping lines urged

  • TECHNOLOGY

    Huawei Y7a; Enjoy poster level shots at the touch of a button!

    Looking for a Balanced School Life? Here is a Gadget Guide for You

    Stress-test your systems against possible cyber-attacks – BoG to banks

    Standout while staying healthy and fit with the sleek HUAWEI WATCH FIT

    Five reasons why you should get the HUAWEI Y7a

    Stallion Motors Ghana Ltd introduces ZxAuto Terralord pickup

    Enjoy longer reading pleasure with the new HUAWEI MatePad T

    Huawei announces innovative HUAWEI Y7a in Ghana

    Patience Akyianu joins Hubtel as non-Executive Director

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    World Bank appoints Senegal’s Makhtar Diop as Managing Director of IFC

    WTO Director General outlines plans to rejuvenate global trade

    WTO Appoints Nigeria’s Ngozi Okonjo-Iweala as First Female Leader

    Ghana-UK finalize negotiations on new interim Trade Partnership Agreement

    Go City Cycle Share & Tour promotes bike-sharing culture in Ghana

    Mastercard, UNICAF offer cardholders 75% scholarships for internationally recognized degrees

    Digital transactions for 2020 up by 103% – GhIPSS report

    Shift focus from upscaling to upgrading – Ofosu-Dorte urges businesses

    Ghana receives €9.7 million EU Grant to improve access to electricity

  • FEATURES
  • Videos
No Result
View All Result
Citi Business News
No Result
View All Result

Automobile Dealers Union pushes for more dialogue on Customs Amendment Bill

by Bobbie Osei
March 5, 2020
in Local Economy, Top Stories, Transport
Share on FacebookShare on TwitterShare on Whatsapp

The Automobile Dealers Union Ghana is urging government to be mindful of the survival of second hand car dealers in the country, as it works to ban the importation of used vehicles that are older than 10 years.

The comments follow Tuesday’s passage of the Customs Amendment Bill at the second reading stage in Parliament, ahead of a full debate of the proposed amendments for the final approval.

When the bill is fully approved, government will also place a total ban on the importation of salvaged cars, also known as accident cars.

The General Secretary of the Automobile Dealers Union Ghana, Clifford Ansu, says the union will push for more dialogue for a review of portions of the bill before it is passed into law to allow some type of accident cars in the system.

ADVERTISEMENT

“If the fender of the car is broken or the tail light and other things are broken and these things can be bought and brought into the country, then I think that should be allowed. But the ones that have totally condemned bodies, cannot be driven at all among others should definitely not be allowed into the country. But if they say cars with broken fenders, tail lights and others can’t be imported then I’ll say that is unfortunate. We are definitely looking at engaging more with government on a mutually beneficial outcome for all.”

The Bill will be fully passed after the amendments are debated

Government has predicted an estimated revenue loss of GHS802 million over the next three years after the review of the policy. This is however expected to be partially offset by the additional revenue from customs duties on vehicles not covered by the programme, according to the joint report of the joint committee on Finance and Trade, Industry and Tourism.

A clause in the amendment empowers the Minister of Finance to specify the date on which the ban will come into place.

Deputy Finance Minister, Abena Osei Asare, quoting the report of the Committee, said “the amendment of the Customs Act, 2015, (Act 891) is to provide incentives for automotive manufacturers and assemblers registered under the Ghana Manufacturing Development Programme (GAMDP),  prohibit the importation of salvaged motor vehicles and specified motor vehicles over ten years of age into the country, increase the import duty on specific motor vehicles and provide import duty exemptions for the security agencies and officers of the security agencies”.

The Minority in Parliament is however calling for the withdrawal of the bill because of its financial implications and the loss of jobs associated with its implementation.

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 this figure, 80 percent were second-hand vehicles. According to some quarters, the trend needs to be reversed to allow for the development, nurturing and flourishing of a competitive automotive industry in Ghana.

Currently, there are penalties for over-aged cars ranging between 5% and 100% of the total cost, insurance and freight of an imported car, between 10 years, and those over 35 years at the country’s ports.

Automobile giants like VW, Toyota, Renault and Nissan, have all expressed interest to set up assembly plants in Ghana, aside from local car manufacturer, Kantanka Automobile Company Limited, which is seeking government’s support to expand its production for the local market.

Related Posts

Business

GUTA demands emergency engagement with stakeholders over port charge increment

by Minna Dablu

With only a few days to the commencement of the increment of charges by the Ghana Ports and Harbours Authority,...

Read more

We did not provide guarantees to IPPs – World Bank clarifies

139,331 jobs created from 1D1F so far – Alan Kyerematen

Ghana’s energy sector debt reduced to $1.5 billion – Amewu

GCNET appeals against Labour Court ruling on redundancy pay

KIA workers to withdraw services to demand removal of MD

Support for indigenous companies needed to create more jobs – Opoku Prempeh

Video on Demand: Business Weekly

ADVERTISEMENT
Citi Business News

© 2019 Citi Business News - CitiBusinessNews.com by CNR Digital.

Navigate Site

  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

Follow Us

No Result
View All Result
  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

© 2019 Citi Business News - CitiBusinessNews.com by CNR Digital.