Government Reduces Import Duties By 50% But Import Duties On Vehicles Reduced By 30%

Dr Bawumia
Dr Mahamudu Bawumia

Starting tomorrow, the government will be implementing an import duty reduction at the country’s ports.

According to the Vice President Dr. Mahamudu Bawumia, that government has decided to reduce import duty by 50 per cent, however, importers of vehicles will enjoy a 30 per cent reduction on import duties.

The vice president made this known while giving the keynote address at the Economic Management Team (EMT) town hall meeting.

The Vice President said the reduction in import duties was to curb smuggling from Lome and Abidjan into Ghana and also facilitate international trade at the ports.

If the Cedi continues to appreciate against the dollar, then it means that vehicles and other imported products will be relatively cheaper.

Y’all getting ready to buy your cars?

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