Freight Forwarders seek clarity on new levies in 2021 Budget

Freight Forwarders at the Tema and Takoradi Ports are seeking clarity on the implementation of the new levies introduced by the government in the 2021 Budget and economic policy.

The budget estimate presented in Parliament last week had introduced some levies to help government deal with the covid-19 pandemic as well as the banking sector collapse.

Speaking with Joy Business, Vice Chairman of the Ghana Institute of Freight Forwarders, Johny Mantey called on government to give clear timelines on these levies in order not to overburden tax payers.

“We have seen this before in several policy measures where it is never withdrawn even after government is able to raise the funds. It is about time we get some clear picture on when these levies will be taken off” he noted.

In the 2021 Budget, government is also seeking to raise funds from a 5.0% tax on profit before tax on banks and financial services, to recover the lost from the banking sector clean up.

Government has also proposed an increment of 1.0% National Health Insurance Levy to be used for the procurement of medical materials for covid-19 treatment and management, among others.