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Government has announced plans to scrap import duties on imported electric vehicles for public transportation for a period of eight years.
The initiative will also cover semi and completely knocked down electric vehicles imported by registered EV assembly companies in Ghana.
Presenting the 2024 Budget Statement in Parliament on Thursday (15 November 2023), the minister said government is on course to increase the country’s percent tax-to-GDP ratio from 13 to 20 % target.
‘Mr. Speaker, our approach to tax policy since 2017 was to give significant relief to the private sector until expenditure pressures from 2020 required a more aggressive approach.
“Mr. Speaker, further to the above, the following reliefs have been prioritised for implementation: Extend zero rate of VAT on locally manufactured African prints for two more years.”
“Waive import duties on import of electric vehicles for public transportation for a period of eight 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 eight years,” he said.