Finance minister, Ken Ofori Atta, has made major and drastic reforms to the first budget of the Nana Addo administration.
In an extensive address to the floor of parliament, the finance minister has revealed that government would put out strict measures to take off all "nuisance" taxes in the country.
These include:
1. Abolishing the 1% special import levy
2. Abolishing of market tolls for Kayayei
3. Abolishing of the 17.5% VAT/NHIL on financial services
4. Abolishing 17.5% VAT/NHIL on domestic airline tickets
5. Abolishing 5% VAT/NHIL on real estate sales
6. Abolish import levies on spare parts
7. Replace 17.5% VAT/NHIL with 3% flat rate for traders
These measures, the minister reveals, will help make the cost of doing business in Ghana cheaper for the creation of jobs.
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