The president of the Association of Ghana Industries is challenging President Mills to fulfill his campaign promise of allowing local manufacturers to postpone payment of import duties on their raw materials till after production.
The AGI has argued the facility, which is presently enjoyed by businesses within the free-zone enclave, is discriminatory against local manufacturers because they have to compete in the same market where their free-zone counterparts sell 30 percent of their output.
Nana Owusu-Afari believes postponing all such pre-production taxes until after production will level the playing field.
He was speaking at his induction by the AGI in Accra on Thursday.
“Import duties on raw materials should be deferred until after production; call it post-production taxes. When you get post-production taxes, you are freed, for at least, a month or two so that you can use your money to expand your business,” Mr Owusu-Afari said.
Immediate past president of the AGI Tony Oteng-Gyasi asked government to make it mandatory for businesses to join associations to enhance data collection.
On her part, Trade Minister Hannah Tetteh said government intends using revenue from the oil exploration to boost infrastructure for businesses to thrive.
Source: Joy Business/Myjoyonline.com/Ghana
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Energy sector woes can’t be fixed through new taxes – Duncan Amoah
5 minutes -
GH¢1 fuel levy necessary to address legacy energy debt and under-recovery – Dr Kwabena Donkor
8 minutes -
Volta region remains unshaken NDC bastion – GIMPA-KAS study
17 minutes -
Goosie Tanoh urges NDC to uphold probity and accountability to sustain leadership for the next 50 years
32 minutes -
Dr Kwabena Donkor backs GH¢1 fuel levy, but says it shouldn’t be in isolation
49 minutes -
IEAG calls on President Mahama to terminate SML contract
53 minutes -
‘It feels amazing’ – Saminu on setting new 100m national record
58 minutes -
Gov’t taking GH¢2 fuel levy, not GH¢1 as claimed – Energy Analyst Kwadwo Poku alleges
1 hour -
Minority marches in protests over undeclared Ablekuma North election result
1 hour -
OPD services halted at Korle Bu as nurses and midwives strike enters day 3
1 hour -
FIFA Club World Cup: Team base camps and training sites for tournament unveiled
1 hour -
Police probe killing of man in Agbozume over alleged phone theft
1 hour -
46th June 4 Commemoration: Let’s not repeat NPP’s mistakes, let’s reset with purpose – Goosie Tanoh to NDC
2 hours -
OSP drops all corruption, bribery charges against Thomas Owusu Andy
2 hours -
Ashanti region remains NPP stronghold, youthful shifts may hint in future – GIMPA-KAS study
2 hours