spare parts

Parliament passes bill to remove taxes on spare parts

Parliament has passed the Customs Amendment bill, despite protests from the minority arguing that the bill breaches the constitution.

The law seeks to scrap duties on both old and new spare parts brought into the country.

During the consideration of the bill Tuesday June 13, 2017, Minority Leader Haruna Iddrisu argued that the bill flouts the constitution and disrespects ECOWAS leaders.

But the Majority Leader Osei Kyei Mensah Bonsu, however, disagreed arguing that the bill was properly put before the House.

The bill was consequently passed on Wednesday June 14, 2017 to scrap the duties on spare parts exempting duties on vehicle tyres.

Ghana’s Finance Minister, Ken Ofori Atta, during his presentation of the 2017 national budget statement and economic policy in Parliament, announced among others some twelve tax scrapping and in some cases a reduction.

The Finance Minister announced that the import levy on spare parts will be abolished