The upcoming 2018 fiscal year budget that will be read in Parliament by the Finance Minister, Ken Ofori Atta, on November, 15 2017 will address concerns of traders and businessman, President Akufo- Addo has assured Abossey Okai Spare parts dealers.
Speaking at a gathering of the traders at Abossey Okai as part of the second day of his three day working tour of the Greater Accra Region, President Akufo Addo said the 2018 budget will go beyond the reliefs that were given to traders in the 2017 budget dubbed “Asempa Budget”.
2017 Tax Reliefs
In the first budget of the Akufo -Addo administration in 2017, several taxes were abolished. They include; the one per cent special import levy, 17.5 VAT on domestic airline tickets, abolish 17.5 VAT on financial services, 17.5% VAT on selected imported medicines, 5% VAT on real estates, excise duty on petroleum, duties on importation of spare parts and levies imposed on Kayayei “head porters) by local authorities.
Foreign Retailers in Ghana
The Chairman of Abossey Okai Spare Parts Dealers Association Joseph Paddy called on the government to reduce foreign retailers in local businesses. He said the activities of these traders are in conflict with GIPC law.